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(H0): Bearish Focus Remains Intact *RES...>

JGB TECHS
JGB TECHS: (H0): Bearish Focus Remains Intact
*RES 3: 153.55 - High Nov 28 and key resistance
*RES 2: 153.11 - High Dec 4
*RES 1: 152.62 - High Jan 6
*PRICE: 152.05 @ 18:40 GMT, Jan 17
*SUP 1: 151.62 - Contract lows, Dec 20
*SUP 2: 151.11 - 76.4% retracement of August 2018 - September 2019 Rally
*SUP 3: 150.52 - 1.0% lower 10-dma envelope
JGBs have managed to extend the recent recovery off the 151.73 low of Jan 15.
Despite this recovery, the near-term outlook remains bearish with attention on
support at 151.62, the Dec 23 low and key support. A break would open 151.43 and
151.15, the 0.618 and 0.764 Fibonacci projection levels of the decline between
Nov 28 - Dec 23 from the Jan 6 high. This all comes ahead of the 151.11
Fibonacci retracement. A stronger recovery is required to suggest potential for
a test of key resistance at 152.62, Jan 6 high.

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