(Z18) Back To Neutral *RES 3: 150.58 -....>

JGB TECHS: (Z18) Back To Neutral

*RES 3: 150.58 - High Aug 22

*RES 2: 150.45 - 50-DMA (Continuation chart)

*RES 1: 150.38 - 50% 151.00-149.75

*PRICE: 150.20 @ 16:36 GMT, Oct 17

*SUP 1: 149.75 - Spike Low Aug 2

*SUP 2: 149.65 - Spike Low Jul 7, 17 (Continuation chart)

*SUP 3: 149.38 - Spike Low Dec 2, 16 (Continuation chart)

Despite the break of key short-term resistance Monday at 150.22 and breaking

above the July downtrend, prices pulled failed to find a higher gear Wednesday

and retained a tight range, frustrating bulls. A recovery through, and close

above, the 50-dma at 150.25 will be needed to cement any upward move, which

should prompt attention to turn to the 150.38 Fib level. 149.95 remains the base

for JGB futures for now, which should continue to provide some modest support. A

break below 149.95 would open the Aug 2 spike low at 149.75 and 149.65 below

there.