Free Trial

(H3) Returning Lower

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: 145.47 @ 15:12 GMT Jan 10
  • SUP 1: 145.17 - Low Jan 2
  • SUP 2: 145.05 - Low Jun 16 and a key support
  • SUP 3: 144.61 - 1.50 proj of the Aug - Oct - Nov price swing

Despite the clear bear cycle, prices posted a shallow bounce into the Friday close amid a global fixed income rally. This soon faded, with prices returning toward recent lows. Markets have managed a low print of 145.17 as part of the recent downtrend, and further weakness would confirm a resumption of the downtrend and open a key support that sits at 145.05, the Jun 16 low. Clearance of this level would strengthen the bearish condition. Key resistance has been defined at 148.79, the Nov 16 high.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.