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(M2) Pierces Longer Term Support

JGB TECHS
  • RES 3: 152.62 - High Jul 21 and the bull trigger
  • RES 2: 152.26 - High Dec 06 and 21 (cont)
  • RES 1: 151.26 - High Mar 4 (cont)
  • PRICE: 149.70 @ 16:29 GMT Mar 23
  • SUP 1: 149.65 - 61.8% Fib 2015 - 2020 Rally
  • SUP 2: 149.60 - Low Mar 23
  • SUP 3: 149.37 - 0.5% 10-dma envelope

The downtrend in JGBs remains intact and prices returned lower still Wednesday. Recent lows reinforce the bearish theme, with prices piercing longer-term support at the 61.8% Fib for the 2015 - 2020 rally at 149.65. A convincing break and close below here would spell further losses toward vol band support at 149.37.

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

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