Free Trial

JGB TECHS: (U4) Weakness Exposes Support

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: 142.65 @ 15:29 BST Jul 24
  • SUP 1: 142.23 - Low Jul 02
  • SUP 2: 141.34 - 1.0% 10-dma envelope
  • SUP 3: 140.21 - 1.236 proj of Mar 22 - Nov 1 ‘23 - Jan 15 price swing    

JGB futures widened the gap with last week’s highs as markets sold off on the back of speculation around the BoJ’s rate-setting meeting next week. The intraday weakness exposes next support just below the new weekly pullback low, with bears eyeing 142.23 for direction. A break of this level would be bearish.

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.