JPM：10y美债技术分析

The 10-year note trades in a range around the 4.225% 200-day moving average. We think the 4.395% violated Oct-Dec trend line, 4.445% Feb 61.8% retrace, and 4.45% 50-day moving average will cap yields in the weeks ahead. Resistance rests at the 4.125% Nov yield low and 4.065% Sep 61.8% retrace. An unexpected break richer would turn our attention to the 3.855% Sep 78.6% retrace and then 4.595% Sep yield low.