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JGB TECHS: (Z4) Bullish Theme Remains Intact 

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: 145.95/146.67 - High Aug 6 / High Mar 6 
  • PRICE: 144.69@ 22:00 BST Sep 23
  • SUP 1: 143.57 - Jul 17 high
  • SUP 2: 142.23 - Low Jul 02
  • SUP 3: 140.21 - 1.236 proj of Mar 22 - Nov 1 ‘23 - Jan 15 price swing    

A bullish outlook for JGB futures remains intact. Strong impulsive gains in early August reinforce this theme and the pullback between Aug 6 - Sep 3, appears to have been a correction. Moving average studies on the continuation chart are in a bull-mode position, highlighting a clear uptrend. A continuation higher would open 145.95, the Aug 6 high and a bull trigger. A reversal lower would instead expose 143.57, the Jul 17 high.

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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: 145.95/146.67 - High Aug 6 / High Mar 6 
  • PRICE: 144.69@ 22:00 BST Sep 23
  • SUP 1: 143.57 - Jul 17 high
  • SUP 2: 142.23 - Low Jul 02
  • SUP 3: 140.21 - 1.236 proj of Mar 22 - Nov 1 ‘23 - Jan 15 price swing    

A bullish outlook for JGB futures remains intact. Strong impulsive gains in early August reinforce this theme and the pullback between Aug 6 - Sep 3, appears to have been a correction. Moving average studies on the continuation chart are in a bull-mode position, highlighting a clear uptrend. A continuation higher would open 145.95, the Aug 6 high and a bull trigger. A reversal lower would instead expose 143.57, the Jul 17 high.