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(H1) Pressure at the Open

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: 151.74 @ 16:06 GMT Jan 18
  • SUP 1: 151.56 - Low Jan 17
  • SUP 2: 151.30 - Low Aug 28
  • SUP 3: 151.18 - Low June 2020

JGBs reopened poorly, hitting new multi-month lows at 151.56 before recovering. This exposes lower levels for the contract, with 151.30 and 151.18 the medium-term targets. This reinforces the bearish threat, which initially 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. A break would reinstate a bullish focus.

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