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JGB TECHS: (U4) Strong Weekly Close

JGB TECHS
  • RES 3: 148.74 - High Jul 24 (cont)
  • RES 2: 147.74 - High Jan 15 and bull trigger (cont)  
  • RES 1: 144.88/145.95 - High May 8 / High Mar 25
  • PRICE: 143.15 @ 16:23 BST Jul 12
  • SUP 1: 142.23 - Low Jul 02
  • 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    

Prices traded well into the Friday close, benefiting from the global bond rally. This puts prices clear of the early July highs and goes part way to reversing the sell off across June. Resistance remains intact at 144.88, the May 8 high, which will be a focus on an extension of the current bounce. Support sits below at 142.23, the early Jul lows.

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