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(H2) Stabilising

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: 151.06 @ 16:39 GMT Jan 13
  • SUP 1: 150.70 - Low Jan 11
  • SUP 2: 150.61 - Low March’20 (cont)
  • SUP 3: 150.38 - Low Feb 26 (cont)

The sharp and abrupt sell-off in JGBs has stabilised somewhat, but the outlook remains heavy after selling pressure accelerated on the break below the April 1st low of 150.88. This put prices at their lowest levels since mid-March and close to further key supports. The slip through 150.88 firms the bearish case, opening losses toward the March 2020 lows printed at 150.61. Losses through here will prompt bears to target 150.38 and below.

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