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JGB TECHS: (Z4) Bounce Reverses

JGB TECHS
Fixed Income Technical AnalysisAPACJapanBulletGlobalFixed Income BulletsRegionMarkets
  • RES 3: 149.55 - High Mar 22 (cont)
  • RES 2: 147.74 - High Jan 15 and bull trigger (cont)  
  • RES 1: 146.53 - High Aug 6 
  • PRICE: 144.03 @ 15:29 GMT Nov 06
  • SUP 1: 143.62/57 - Low Nov 06 / High Jul 17
  • SUP 2: 142.23 - Low Jul 02
  • SUP 3: 140.21 - 1.236 proj of Mar 22 - Nov 1 ‘23 - Jan 15 price swing    

Prices recovered slightly through the middle of last week, working against the recent pullback in prices. Nonetheless, the return lower at the start of this week keeps the focus to the downside, with 143.57 marking both the Jul 17 high on the continuation contract as well as the Oct 22 low. For now, the 50-dma tops out at 144.32, and marks first resistance. A continuation higher would open 146.53, the Aug 6 high(cont) and a bull trigger. 

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  • RES 3: 149.55 - High Mar 22 (cont)
  • RES 2: 147.74 - High Jan 15 and bull trigger (cont)  
  • RES 1: 146.53 - High Aug 6 
  • PRICE: 144.03 @ 15:29 GMT Nov 06
  • SUP 1: 143.62/57 - Low Nov 06 / High Jul 17
  • SUP 2: 142.23 - Low Jul 02
  • SUP 3: 140.21 - 1.236 proj of Mar 22 - Nov 1 ‘23 - Jan 15 price swing    

Prices recovered slightly through the middle of last week, working against the recent pullback in prices. Nonetheless, the return lower at the start of this week keeps the focus to the downside, with 143.57 marking both the Jul 17 high on the continuation contract as well as the Oct 22 low. For now, the 50-dma tops out at 144.32, and marks first resistance. A continuation higher would open 146.53, the Aug 6 high(cont) and a bull trigger.