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(H3) Cracks to Fresh Lows

JGB TECHS
  • RES 3: 151.13 - High Mar 3
  • RES 2: 149.75/150.81 - High Nov 11 / High Aug 5
  • RES 1: 147.64/148.79 Low Dec 6 / High Nov 16
  • PRICE: 144.50 @ 15:48 GMT Jan 13
  • SUP 1: 144.15 - Low Jan 13
  • SUP 2: 144.02 - 2.0% Lower Bollinger Band
  • SUP 3: 143.88 - 1.0% 10-dma envelope

JGBs persisted within the outright bear cycle to hit a fresh cycle low Thursday at 144.58. This level marks the lowest print for JGB futures since 2014 on the continuation contract. Clearance of the recent support keeps the outlook solidly bearish, with vol band support the next levels to watch at 144.02 and 143.88 below. Key resistance has been defined at 148.79, the Nov 16 high.

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

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