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(M9) Plays the Range *RES 3: 153.34 -.....>

JGB TECHS: (M9) Plays the Range
*RES 3: 153.34 - Mar28 High
*RES 2: 153.01 - Apr11 High
*RES 1: 152.85 - 76.4% 153.01 - 152.32
*PRICE: 152.63 @ 16:16 BST, May 21
*SUP 1: 152.44 - 2% Lower Bollinger Band
*SUP 2: 152.33 - 6 March Low
*SUP 3: 151.97 - 38.2% 149.75 - 153.34
JGB futures held below the 50- and 100-dmas Tuesday, with bears eyeing the 2%
lower Bollinger Band as the first target. The tail-end of last week was quiet,
with JGB futures respecting the recent range. Prices need to close south of the
April low at 152.32 to confirm any downside breakout. Any break higher, on the
other hand, opens the 152.94 Fib resistance as the first target, followed by the
Mar28 high at 153.01.

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