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JGB TECHS: (Z18) Holding Upper End of Range
*RES 3: 151.00 - High Jul20
*RES 2: 150.98 - High Jul23
*RES 1: 150.77 - Down Trendline Resistance
*PRICE: 150.75 @ 16:44 GMT, Nov 9
*SUP 1: 150.47/33 - 100-/50-DMA
*SUP 2: 149.75 - Spike Low Aug 2
*SUP 3: 149.65 - Spike Low Jul 7, 17 (Continuation chart)
After a quiet Thursday, Friday saw JGBs supported from the off as equities were
sold pretty much globally. This kept JGBs on the front foot and allows bears to
take more confidence in challenging down trendline resistance at 150.77. Beyond
there, bulls retain the upside target of 150.86. Last week's pullback dented
momentum somewhat, but the short-term trend does continue to point higher.
Basing above the 200-dma at 150.62 will have added confidence. Key support next
kicks in at the 100- and 50-dmas at 150.47 and 150.34.