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(H4) Watching Resistance

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: 146.47 @ 15:20 GMT Dec 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 built on recent gains Tuesday. 143.44, the Oct 31 low, marks key support and a medium-term bear trigger. Initial support to watch is at 144.60, the Dec 11 / 8 low. On the upside and for bulls, initial resistance is at 146.52, the Dec 7 high, where a break would be a bullish development and open resistance at 147.27, the Dec 06 high and above at 148.74, the Jul 24 high.

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

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