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(U9) Congestion near the highs *RES 3:....>

JGB TECHS
JGB TECHS: (U9) Congestion near the highs
*RES 3: 159.37 - Multi-year Up trendline Resistance
*RES 2: 155.54 - 3.0% Upper Bollinger Band
*RES 1: 155.37 - Cycle High
*PRICE: 155.32 @ 15:11 GMT, Sep 2
*SUP 1: 154.44 - 38.2% 154.44 - 155.02
*SUP 2: 154.20 - 50-dma
*SUP 3: 153.59 - 100-dma
JGB futures continue to bump up against the recent cycle highs of 155.37, with a
fresh wave of momentum needed to allow bulls to push above. It appears some
decent congestion resistance is building between 155.32-37, which looks likely
to slow proceedings. Any rally north of here opens volatility band resistance at
155.54. Support remains at 154.87, but a break and close below Fib support at
154.44 would be needed to favour the bears.

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