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(H4) Remains Above The January Low

  • 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 and bull trigger
  • PRICE: 146.26 @ 16:09 GMT Feb 20
  • SUP 1: 144.60 - Low Dec 08 / 11
  • SUP 2: 143.44 - Low Oct 31 (cont)
  • SUP 3: 143.29 - 2.618 proj of the Mar 22 - Apr 18 - May 12 swing

Recent weakness in JGBs resulted in a low print of 145.86, on Jan 26 - and that level is being re-tested after the US CPI release. A stronger reversal is required to signal the end of the recent corrective phase. A resumption of weakness would potentially open 144.60 support. On the upside, the bull trigger has been defined at 147.74, the mid-January high. A break would resume the uptrend. MA studies remain in a bull-mode set-up, highlighting an uptrend.

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