Free Trial

(H0): Tops Retracement Target *RES 3:.....>

JGB TECHS
JGB TECHS: (H0): Tops Retracement Target
*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: 152.20 @ 16:22 GMT, Jan 21
*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 rose through Fib resistance at the 152.17 mark Tuesday, setting up bulls
well headed into the second half of the week. This counters the bearish signals
in the market present over the past fortnight or so, but this momentum could
easily resume. Downside focus rests 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
would open a test of key resistance at 152.62, Jan 6 high.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.