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(M1) Attention is On The 50-DMA

  • RES 3: 152.55 - High Aug 5 (cont)
  • RES 2: 152.18 - High Dec 14 / 23 and the bull trigger
  • RES 1: 151.72- 3.0% Upper Bollinger Band
  • PRICE: 151.00 @ 16:18 GMT Mar 31
  • SUP 1: 150.76 - 2.0% Lower Bollinger Band
  • SUP 2: 150.38 - Low Feb 25
  • SUP 3: 150.28 - Low Oct 24 2018

JGB futures are trading closer to recent highs. After the erratic spike in prices earlier in the month, normality has returned to Japanese bond markets, with the technical outlook stabilising. Resistance at 151.01 has given way as well as the 20-DMA, opening a further recovery in prices to retest the 50-dma at 151.40 (cont). A clear break of this MA would solidify the recovery from the Feb cycle low, and open a more protracted S/T rally.

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