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JGB TECHS: (H5) Fresh Lows

JGB TECHS
Fixed Income Technical AnalysisBulletAPACFixed Income BulletsJapanMarkets
  • RES 3: 147.74 - High Jan 15 and bull trigger (cont)
  • RES 2: 146.53 - High Aug 6 
  • RES 1: 142.73/144.48 - High Dec 9 / High Nov 11  
  • PRICE: 139.04 @ 16:01 GMT Feb 18
  • SUP 1: 138.83 - Low Feb 18
  • SUP 2: 138.87 - 3.000 proj of the Aug 6 - Sep 3 - 9 price swing
  • SUP 3: 138.52 - 1.0% 10-dma envelope    

A clear downtrend in JGB futures firmed further on the strong GDP print, with the latest fresh cycle lows reinforcing the condition. Note too that MA studies on the continuation chart are in a bear-mode setup, highlighting a clear downtrend. The 140.00 psychological handle has been pierced and markets have shown through 139.38, a Fibonacci projection. For bulls, a reversal would open 142.73 and 144.48, the Dec 9 and Nov 11 high respectively. Gains would be considered corrective.

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  • RES 3: 147.74 - High Jan 15 and bull trigger (cont)
  • RES 2: 146.53 - High Aug 6 
  • RES 1: 142.73/144.48 - High Dec 9 / High Nov 11  
  • PRICE: 139.04 @ 16:01 GMT Feb 18
  • SUP 1: 138.83 - Low Feb 18
  • SUP 2: 138.87 - 3.000 proj of the Aug 6 - Sep 3 - 9 price swing
  • SUP 3: 138.52 - 1.0% 10-dma envelope    

A clear downtrend in JGB futures firmed further on the strong GDP print, with the latest fresh cycle lows reinforcing the condition. Note too that MA studies on the continuation chart are in a bear-mode setup, highlighting a clear downtrend. The 140.00 psychological handle has been pierced and markets have shown through 139.38, a Fibonacci projection. For bulls, a reversal would open 142.73 and 144.48, the Dec 9 and Nov 11 high respectively. Gains would be considered corrective.