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Bullish Theme Intact

JGB TECHS
  • RES 3: 152.50 - 1.000 proj of Aug 4 - Sep 28 rally from the Sep 7 low
  • RES 2: 152.04 - 0.764 proj of Aug 4 - Sep 28 rally from the Sep 7 low
  • RES 1: 151.98 - High Sep 11 and the bull trigger
  • PRICE: 151.93 @ 17:18 BST Sep 11
  • SUP 1: 151.54 - Low Sep 7 and key near-term support
  • SUP 2: 151.43 - Low Sep 1
  • SUP 3: 151.20 - Low Aug 28

JGBs maintain a bullish tone, having recovered the ground lost in the sell-off between Sep 4 - 7. The recent break of resistance at 151.86, Sep 4 high, confirms a resumption of the recovery that has dominated since bouncing on Aug 28 off 151.20. This signals scope for gains beyond 151.98, the Sep 11 high, towards 152-04, a Fibonacci projection. On the downside, key short-term support has been defined at 151.54.

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