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JGB TECHS

(Z1) Corrective Bounce

PBOC

VIEW: Goldman Sachs: RRR Cut In Q4 Less Likely

US EURODLR FUTURES

Pressured Early

GILT TECHS
GILT TECHS: (U17) Rally Approaches Swing Target At 128.87
*RES 4: 129.68 May 30 high
*RES 3: 129.53 Median line off Mar & May lows
*RES 2: 129.19/20 Jun 14 high, 1% volatility band
*RES 1: 128.87 1.618 swing of 128.24-127.22
*PRICE: 127.77 @1300GMT
*SUP 1: 128.24 Aug 11 high, now support
*SUP 2: 128.05/10 Aug 21, Aug 23 highs, now support
*SUP 3: 127.82 Aug 25 low
*SUP 4: 127.49 Aug 22 low
*COMMENTARY* A fresh upside surge has now eclipsed the month's previous 128.24
high and also removed the threat from the potentially bearish 'Doji' candle
close on the daily chart on Aug 11. This now sees the swing target at 128.87 as
the next viable upside objective, ahead of the Jun 14 high and upper 1%
volatility band between 129.19-129.20. Meanwhile, support comes initially from
that 128.24 high and then 128.05-10.