Free Trial

(H4) Steps Lower on BoJ

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: 146.09 @ 15:52 GMT Jan 24
  • 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 sold off on the Tuesday BoJ decision, slipping to pullback lows of 146.42. This further erases a 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, the current corrective cycle 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.

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

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.