(M9) Remains Wedged Between 50- and.......>

JGB TECHS: (M9) Remains Wedged Between 50- and 100-DMA

*RES 3: 153.34 - Mar28 High

*RES 2: 152.94 - 38.2% 153.34 - 152.70

*RES 1: 152.79 - 50-DMA

*PRICE: 152.61 @ 16:23 BST, Apr 25

*SUP 1: 152.33 - 6 March Low

*SUP 2: 152.03 - 3% Lower Bollinger Band

*SUP 3: 151.97 - 38.2% 149.75 - 153.34

JGBs were little changed Thursday, with prices remaining capped by the 50-dma at

152.79, which becomes the first target. This is mirrored to the downside by the

100-dma, which becomes the first target for bears. Any recovery north of the

152.80 mark opens Fib resistance at 152.94 and the Mar28 high at 153.34. Golden

week holidays next week makes Friday the last 'live' session for JGBs for a

while, so month-end flows could dominate.