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(H2) Double Top Reversal Extends

JGB TECHS
  • RES 3: 152.66 - 0.5% 10-dma envelope
  • RES 2: 152.62 - High Jul 21 and the bull trigger
  • RES 1: 152.26 - High Dec 06 and 21
  • PRICE: 151.02 @ 16:40 GMT Jan 06
  • SUP 1: 151.01 - Low Jan 06
  • SUP 2: 150.88 - Low Apr 1 (cont)
  • SUP 3: 150.38 - Low Feb 26 (cont)

JGB futures are extending recent weakness, pressuring prices further after the sharp move lower and resulting in a print below 151.67, the Nov29 low. The clear break of this support highlights an extension of the weakness following the double top reversal and opens losses toward historic levels seen on the continuation contract at 150.88 and 150.38 below. Bearish for now.

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