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(H4) Fades Off Cycle High

JGB TECHS
  • RES 3: 149.53 - High Mar 22 (cont) and a key resistance
  • RES 2: 148.74 - High Jul 24 (cont)
  • RES 1: 147.74 - High Jan 15
  • PRICE: 146.95 @ 16:08 GMT Jan 22
  • SUP 1: 144.60 - Low Dec 08
  • SUP 2: 143.44 - Low Oct 31 (cont)
  • SUP 3: 143.29 - 2.618 proj of the Mar 22 - Apr 18 - May 12 swing

JGBs slipped into the Friday close, erasing the large part of a recovery rally above initial resistance at 146.52, the Dec 7 high. While this opened resistance at 148.74 further out, last week’s correction lower shows that gains won’t be one-directional. 144.60 marks initial support, weakness through which would open the Oct 31 low of 143.44.

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