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(M1) Tilted Higher

JGB TECHS
  • RES 3: 151.82 - 76.4% November - February Decline
  • RES 2: 151.66/71 - High Apr 23 / High Mar 5 and bull trigger
  • RES 1: 151.60 - High May 26
  • PRICE: 151.46 @ 14:24 BST May 31
  • SUP 1: 151.17 - 38.2% Feb - Apr Rally
  • SUP 2: 150.88 - Low Apr 1
  • SUP 3: 150.19 - Low Feb 26
JGB futures rolled off the week's highs last week, with 151.60 marking the high watermark for now. Prices remain below the Apr 23 high of 151.66. Recent price action has worked against the multi-month uptrend and trendline support drawn off the Feb 26 low has been breached. This highlights a neutral outlook while also signalling the potential for a bearish resumption. Initial support is 151.17, a retracement where a break would strengthen a bearish case. Key resistance has been defined at 151.66/71.

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