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(H1) Bearish Theme

JGB TECHS
  • RES 3: 152.55 - High Aug 5 (cont)
  • RES 2: 152.28 - 3.0% Upper Bollinger Band
  • RES 1: 152.18 - High Dec 14 / 23 and the bull trigger
  • PRICE: 151.78 @ 15:10 GMT Jan 11
  • SUP 1: 151.73 - Low Jan 8 and bear trigger
  • SUP 2: 151.63 - Low Nov 4
  • SUP 3: 151.30 - Low Aug 28

JGBs sold off sharply on Dec 24 reversing the recovery between Dec 7 - 23 and the sell-off highlights a bearish threat once again. Futures have sold off this week too, reinforcing bearish conditions which have firmed on the break of 151.81, the Dec 7 low and bear trigger. Clearance here opens 151.63 further out, the Nov 4 low. On the upside, key resistance has been defined at 152.18, Dec 14/23 high. A break would reinstate a bullish focus.

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