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(H1) Extends Lower End of the Range

JGB TECHS
  • RES 3: 152.55 - High Aug 5 (cont)
  • RES 2: 152.41- 3.0% Upper Bollinger Band
  • RES 1: 152.29/27 - High Sep 24/Nov 23 and bull trigger
  • PRICE: 152.18 @ 16:17 GMT Dec 11
  • SUP 1: 151.72 - Low Nov 10
  • SUP 2: 151.54 - Low Sep 7
  • SUP 3: 151.43 - Low Sep 1

JGBs returned to, and expanded, the lower end of the recent range, falling to fresh December lows and opening near-term support at 151.72 - the Nov 10 low. A break through here would be a bearish development, opening early September levels and below - a breakout of the very tight recent range. For the upside argument to solidify, markets need to stabilise above 151.80 before the Nov 23 bull trigger at 152.27 can be considered.

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