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(U2) Nearing Trend Lows

JGB TECHS
  • RES 3: 151.13 - High Mar 3
  • RES 2: 150.44 - High Mar 14
  • RES 1: 150.14/17 - High Apr 1 and key resistance / Intraday high
  • PRICE: 148.87 @ 15:33 BST Jun 10
  • SUP 1: 148.82/72 - Low Jun 10 / Low Mar 29 and the bear trigger
  • SUP 2: 148.69 - 3.0% Lower Bollinger Band
  • SUP 3: 148.16 - 1.0% 10-dma envelope

The primary downtrend in JGBs remains intact, with prices closing near the week’s lows. Price is returning lower after rejecting a challenge of key resistance at 150.14, Apr 1 high. A clear break of this level would signal scope for a stronger corrective cycle and open 150.44, the Mar 14 high. Further downside would signal a resumption of bearish activity and open 148.96 and major support at 148.72.

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  • RES 3: 151.13 - High Mar 3
  • RES 2: 150.44 - High Mar 14
  • RES 1: 150.14/17 - High Apr 1 and key resistance / Intraday high
  • PRICE: 148.87 @ 15:33 BST Jun 10
  • SUP 1: 148.82/72 - Low Jun 10 / Low Mar 29 and the bear trigger
  • SUP 2: 148.69 - 3.0% Lower Bollinger Band
  • SUP 3: 148.16 - 1.0% 10-dma envelope

The primary downtrend in JGBs remains intact, with prices closing near the week’s lows. Price is returning lower after rejecting a challenge of key resistance at 150.14, Apr 1 high. A clear break of this level would signal scope for a stronger corrective cycle and open 150.44, the Mar 14 high. Further downside would signal a resumption of bearish activity and open 148.96 and major support at 148.72.