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US: What to Watch


Treasury Plans To Sell $20B in Bonds This Year


(H2) Challenging Support


Large 5Y Call Buy

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JGB TECHS: (Z9) Downside slows
*RES 3: 155.70 - 2.0% Upper Bollinger Band
*RES 2: 155.53 - Cycle High
*RES 1: 155.48 - Recovery high
*PRICE: 154.63 @ 15:48 GMT, Oct 1
*SUP 1: 153.49 - Aug 2 Low
*SUP 2: 153.30 - 200-dma
*SUP 3: 153.29 - 1.0% 10-dma envelope
Cycle highs remain on the cards for bulls, but momentum faltered into the
beginning of this week which carried through into the Tuesday session. JGB
futures stabilised somewhat, but the bias remains lower the longer prices hold
below 155. Bulls retain their sights on 155.53 and the Vol band resistance
beyond. This week's moves keep the near-term outlook constructive with the
confirmed close above the 50-dma also helping the upside argument. Bears can
easily tip the balance back to negative, with envelope support at 153.29 the
medium-term target. The 200-dma remains well within range for bears.
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