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(H3) Remains Below Resistance

JGB TECHS
  • RES 3: 152.26 - High Dec 7 / 21 2021 (cont)
  • RES 2: 151.13 - High Mar 3
  • RES 1: 149.75/150.81 - High Nov 11 / High Aug 5
  • PRICE: 148.24 @ 16:37 GMT Dec 13
  • SUP 1: 147.38 - Low Oct 21 (cont)
  • SUP 2: 147.07 - Low Jun 20
  • SUP 3: 145.05 - Low Jun 16 and a key support

JGB futures continue to trade below 149.75, the Nov 11 high on the continuation contract. A resumption of weakness would expose support at 148.24, the Oct 21 low (cont). If this level is cleared, scope would be seen for a move towards 147.07, the Jun 20 low (cont). For bulls, key resistance has been defined at 150.81, the Aug 5 high where a break is required to suggest a stronger medium-term reversal.

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

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