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(M9) Pullback Gathers Pace *RES 3:........>

JGB TECHS: (M9) Pullback Gathers Pace
*RES 3: 153.34 - Mar28 High
*RES 2: 153.01 - Apr11 High
*RES 1: 152.85 - 76.4% 153.01 - 152.32
*PRICE: 152.62 @ 16:16 BST, May 20
*SUP 1: 152.42 - 2% Lower Bollinger Band
*SUP 2: 152.33 - 6 March Low
*SUP 3: 151.97 - 38.2% 149.75 - 153.34
JGB futures retreated below the 50- and 100-dmas to start the week, with bears
eyeing the 2% lower Bollinger Band as the first target. Friday trade was quiet,
with JGB futures respecting the recent range. Below there, 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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