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(M1) Erratic Spike Erased

JGB TECHS
  • RES 3: 152.55 - High Aug 5 (cont)
  • RES 2: 152.28 - 3.0% Upper Bollinger Band
  • RES 1: 152.18 - High Dec 14 / 23 and the bull trigger
  • PRICE: 150.76 @ 16:57 GMT Mar 8
  • SUP 1: 150.38 - Low Feb 25
  • SUP 2: 150.33 - 3.0% Lower Bollinger Band
  • SUP 3: 150.28 - Low Oct 24 2018

Recent trade has shown that volatility works in both directions for JGB futures, as prices spiked to new highs of 151.71 before retracing within the trading day. This keeps the broader technical outlook unchanged and weak. Recent price action has opened 150.28 initially ahead of H2 2018 lows at 149.95. On the upside, key resistance has been defined at 152.18, Dec 14/23 high.

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

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