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(M9) Test of 50-dma Looks Likely *RES.....>

JGB TECHS
JGB TECHS: (M9) Test of 50-dma Looks Likely
*RES 3: 154.01 - 28 July 2016 High
*RES 2: 153.80 - 29 August 2016 High
*RES 1: 153.34 - Mar28 High
*PRICE: 153.19 @ 15:29 GMT, Apr1
*SUP 1: 152.78 - 50-DMA
*SUP 2: 152.41 - 6 March Low
*SUP 3: 152.23 - 100-DMA
Monday trade saw JGB futures pull back alongside global bond markets, adding to
the argument that the recent bump higher may be unjustified and a near-term
correction is needed to justify further gains. This brings the 50-dma at 152.78
into contention - a level tested numerous times in late March and providing firm
support. A break below here would open the 23.6% retracement level at 152.23
remains in view, with the 100-dma just below at 152.23.

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