(U9) Stands pat *RES 3: 154.16 - Broken...>

JGB TECHS: (U9) Stands pat

*RES 3: 154.16 - Broken Trendline Resistance

*RES 2: 154.14 - 3.0% Upper Bollinger Band

*RES 1: 154.13 - Cycle High

*PRICE: 153.73 @ 15:50 GMT, Jul 29

*SUP 1: 153.49/ - 50-dma

*SUP 2: 153.15 - 61.8% 152.54 - 154.13

*SUP 3: 153.13 - 100-dma

Another quiet session for JGB futures, doing little to change the technical

outlook. The positive outlook is still in tact, however, with a move below the

153.32 weekly low needed to damage the current mini-rally. Bulls face their

first test 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 153.13 below.