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(H4) Shallow Bounce Persists

JGB TECHS
  • RES 3: 149.53 - High Mar 22 and a key resistance
  • RES 2: 148.74 - High Jul 24
  • RES 1: 147.27 - High Dec 06
  • PRICE: 145.96 @ 16:28 GMT Dec 14
  • 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 rallied on the back of the dovish Fed decision, however the bounce is so far too shallow to counter the post-Ueda weakness that led to the recent phase of weakness. 143.44, the Oct 31 low, marks key support and a medium-term bear trigger. Initial support is at 145.53, the Nov 27 low. Any return higher will meet resistance at 147.27 and above at 148.74.

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