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(U9) Resumes trade pointing higher *RES...>

JGB TECHS
JGB TECHS: (U9) Resumes trade pointing higher
*RES 3: 158.42 - Multi-year Up trendline Resistance
*RES 2: 155.31 - 3.0% Upper Bollinger Band
*RES 1: 154.95 - Cycle High
*PRICE: 154.82 @ 15:43 GMT, Aug 13
*SUP 1: 154.20 - 23.6% 152.32 - 154.78
*SUP 2: 153.77 - 50-dma
*SUP 3: 153.30 - 100-dma
Having stayed closed for the Monday session, JGB futures looked to catch up with
their global bond counterparts by printing fresh cycle highs at 154.95. From
there, momentum flagged as global bonds dropped as focus returned to technical
indicators that continue to flag JGBs as overbought (particularly on the RSI &
MACD studies). To the downside, a break and close below Fib support at 154.20
would work in favour of bears, before challenging the 50-dma and the mid-May
lows of 152.69.

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