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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: 152.12 @ 16:32 GMT Dec 14
  • 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.

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