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(M1) Bullish Focus

JGB TECHS
  • RES 3: 152.55 - High Aug 5 (cont)
  • RES 2: 152.18/28 - High Dec 23 / 14 and a bull trigger
  • RES 1: 151.71/78 - High Mar 5 / 3.0% Upper Bollinger Band
  • PRICE: 151.42 @ 17:44 BST May 10
  • SUP 1: 150.95/88 - 2.0% Lower Bollinger Band / Low Apr 1
  • SUP 2: 150.19 - Low Feb 26
  • SUP 3: 149.95 - Low Oct 4 2018

JGB futures maintain a bullish tone and are trading closer to recent highs. The focus is on the Mar 5 high of 151.71 and this level represents a key short-term hurdle for bulls. A break would signal scope for an extension higher and open 151.80, the 200-dma and 152.18/28, the Dec 23 / 14 high. On the downside, initial key support has been defined at 150.88, Apr 1 low. A break would be bearish.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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