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(M1) Recovering Well Tops 50-DMA

JGB TECHS
  • RES 3: 152.55 - High Aug 5 (cont)
  • RES 2: 152.18 - High Dec 14 / 23 and the bull trigger
  • RES 1: 151.74 - 3.0% Upper Bollinger Band
  • PRICE: 151.38 @ 16:55 GMT Mar 29
  • SUP 1: 150.62 - 2.0% Lower Bollinger Band
  • SUP 2: 150.38 - Low Feb 25
  • SUP 3: 150.28 - Low Oct 24 2018

After the erratic spike in prices earlier in the month, normality has returned to Japanese bond markets, with the technical outlook stabilising. First resistance at 151.01 has now given way as well as the 50-dma at 151.37, opening a further recovery in prices toward the 2.0% Bollinger Band of 151.54. A break above here would solidify the recovery from the February cycle low, and open a more protracted near-term rally.

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

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