(U9) Fares well despite BoJ hiccup *RES...>

JGB TECHS: (U9) Fares well despite BoJ hiccup

*RES 3: 154.16 - Broken Trendline Resistance

*RES 2: 154.14 - 3.0% Upper Bollinger Band

*RES 1: 154.13 - Cycle High

*PRICE: 153.80 @ 15:13 GMT, Jul 30

*SUP 1: 153.52 - 50-dma

*SUP 2: 153.15 - 61.8% 152.54 - 154.13

*SUP 3: 153.13 - 100-dma

JGB futures fared well Tuesday, continuing to press higher despite a lack of

affirmative action from the BoJ overnight. This kept positive outlook in tact

with a move below the 153.32 weekly low needed to damage the current mini-rally.

Bulls took out first resistance at 153.82, the 61.8% retracement of the

June-July pullback, and a rally north of here will re-open cycle highs. To the

downside, the 50-dma remains a decent level of support, which will be the first

target for bears. A close below that mark will switch the medium-term trend more

bearish, opening the 153.15 mark and 153.15 below.