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(M2) Trend Condition Remains Bearish

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(H2) Consolidation Mode

  • RES 3: 153.02 - High Apr 28 2020
  • RES 2: 152.62 - High Jul 21 and the bull trigger
  • RES 1: 152.26 - High Dec 06 and 21
  • PRICE: 150.87 @ 20:47 GMT Jan 20
  • SUP 1: 150.64 - Low Jan 14
  • SUP 2: 150.61 - Low March’20 (cont)
  • SUP 3: 150.38 - Low Feb 26 (cont)

The sharp and abrupt sell-off in JGBs since Dec 21 has stabilised somewhat. The outlook remains heavy though following the breach of the April 1st low of 150.88. This has put prices at their lowest levels since mid-March and close to further key supports. The slip through 150.88 opens losses toward the March 2020 lows printed at 150.61. Losses through here will prompt bears to target 150.38 and below.

MNI London Bureau | +44 203-586-3805 |
MNI London Bureau | +44 203-586-3805 |

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