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(M2) Trend Condition Remains Bearish

JGB TECHS
  • RES 3: 151.13 - High Mar 3
  • RES 2: 150.44 - High Mar 14
  • RES 1: 150.14 - High Apr 1
  • PRICE: 149.35 @ 16:59 BST Apr 27
  • SUP 1: 148.72 - Low Mar 28
  • SUP 2: 148.69 - 3.0% Lower Bollinger Band
  • SUP 3: 148.01 - 1.0% 10-dma envelope

The primary downtrend in JGBs remains intact and the recent recovery between Mar 29 - Apr 1 appears to be a correction. The downtrend has breached the 61.8% Fib for the 2015 - 2020 rally at 149.65. The break here spells further losses toward 148.69/148.01, which marks both the 3.0% Lower Bollinger Band as well as the 1.0% 10-dma envelope. Resistance is at 150.14, Apr 1 high.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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