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(M9) Respects Recent Range *RES 3:........>

JGB TECHS
JGB TECHS: (M9) Respects Recent Range
*RES 3: 154.01 - 28 July 2016 High
*RES 2: 153.80 - 29 August 2016 High
*RES 1: 153.22 - Mar26 High
*PRICE: 153.10 @ 16:17 GMT, Mar 27
*SUP 1: 152.74 - 50-DMA
*SUP 2: 152.41 - 6 March Low
*SUP 3: 152.15 - 100-DMA
JGB futures continue to trade either side of 153.00 handle, benefiting from
spillover buying courtesy of still-falling US Treasury yields and a dovish turn
from the RBNZ. A recovery above the 153.22 mark provides markets with a
relatively clear run on August 2016 highs at 153.80. Nonetheless, bears could
easily re-tip the balance to the downside by breaking through the 50-dma support
at 152.74. This increases the importance of this support going forward. Below
there, the 23.6% retracement level at 152.23 remains in view, with the 100-dma
just below at 152.15.

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