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JGB TECHS: (M4) Clears June Highs

JGB TECHS
  • RES 3: 148.74 - High Jul 24  
  • RES 2: 147.74 - High Jan 15 and bull trigger  
  • RES 1: 144.88/145.95 - High May 8 / High Mar 25
  • PRICE: 143.54 @ 16:29 BST Jun 13
  • SUP 1: 142.85 - Low May 30
  • SUP 2: 142.06 - 1.0% 10-dma envelope
  • SUP 3: 141.65 - 1.00 proj of Mar 22 - Nov 1 ‘23 - Jan 15 price swing    

The weekly rally in JGB futures persists Wednesday, with prices topping pre-NFP levels to print 143.68. Key resistance remains at 145.95, the Mar 28 high. A break would signal scope for a climb towards the bull trigger at 147.74, the mid-January high. The bounce off late May lows has called into question the sustainability of the bear trend this year, despite the contract recently trading through key support at 143.44, the Nov 1 low. This exposes 141.65, a Fibonacci projection.

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  • RES 3: 148.74 - High Jul 24  
  • RES 2: 147.74 - High Jan 15 and bull trigger  
  • RES 1: 144.88/145.95 - High May 8 / High Mar 25
  • PRICE: 143.54 @ 16:29 BST Jun 13
  • SUP 1: 142.85 - Low May 30
  • SUP 2: 142.06 - 1.0% 10-dma envelope
  • SUP 3: 141.65 - 1.00 proj of Mar 22 - Nov 1 ‘23 - Jan 15 price swing    

The weekly rally in JGB futures persists Wednesday, with prices topping pre-NFP levels to print 143.68. Key resistance remains at 145.95, the Mar 28 high. A break would signal scope for a climb towards the bull trigger at 147.74, the mid-January high. The bounce off late May lows has called into question the sustainability of the bear trend this year, despite the contract recently trading through key support at 143.44, the Nov 1 low. This exposes 141.65, a Fibonacci projection.