Free Trial

(M3) Adds to Recent Rally

JGB TECHS
  • RES 3: 151.13 - High Mar 3
  • RES 2: 149.75/150.81 - High Nov 11 / High Aug 5
  • RES 1: 149.35 High Mar 15
  • PRICE: 148.77 @ 16:22 GMT Mar 17
  • SUP 1: 144.93 - Low Mar 9
  • SUP 2: 144.15 - Low Jan 13
  • SUP 3: 143.86 - 1.0% 10-dma envelope

JGBs traded well into the Friday close, holding the bulk of the gains posted through Wednesday. The unchanged BoJ decision and a phase of global rate re-pricing has boosted bond prices, with recent weakness wholly reversed. The Mar02 high at 147.07 has been broken (and then some), working against the over-arching downtrend. Any resumption of weakness would expose next support at the Jan 13 low on the continuation contract at 144.15 for direction.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.