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(M9) Shrugs Off BoJ *RES 3: 154.01 - 28...>

JGB TECHS
JGB TECHS: (M9) Shrugs Off BoJ
*RES 3: 154.01 - 28 July 2016 High
*RES 2: 153.80 - 29 August 2016 High
*RES 1: 153.00 - Up trendline Resistance
*PRICE: 152.82 @ 16:40 GMT, Mar 15
*SUP 1: 152.70 - 50-DMA
*SUP 2: 152.41 - 6 March Low
*SUP 3: 151.96 - 100-DMA
JGB futures largely shrugged off the unchanged BoJ rate decision, respecting the
recent range and returning focus to the 50-dma support at 152.70. This keeps the
wider technical picture unchanged for now. Up trendline resistance at 153.00
remains the first target for bulls, who need to recover above here to regain
momentum that has petered out slightly over the past fortnight. Any recovery
above the mark opens 153.80 in the medium-term and the 28 July 2016 high at
154.01. To the downside, the 23.6% retracement level at 152.23 remains in view,
but the 100-dma & Dec 13 low sit below at 151.96/51.

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