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(H1) Drops Stalls Ahead of June Lows

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: 151.25 @ 16:22 GMT Feb 18
  • SUP 1: 151.19 - Low Feb 12
  • SUP 2: 151.18 - Low June 2020
  • SUP 3: 150.61 - Low Mar 19 2020

JGBs fell further Wednesday with the decline nearing, but not quite breaking, the June 2020 lows of 151.18. This affirms the underlying downtrend, raising the likelihood of a break through the mid-2020 lows in the near-term. This reinforces the bearish threat, which firmed on the break of 151.81, the Dec 7 low and bear trigger. On the upside, key resistance has been defined at 152.18, Dec 14/23 high.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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