Free Trial

(M3) Corrective Cycle Still In Play

JGB TECHS
  • RES 3: 151.26 - High Mar 3 2022
  • RES 2: 149.75/150.81 - High Nov 11 / High Aug 5 2022
  • RES 1: 149.53 High Mar 22
  • PRICE: 147.73 @ 15:18 BST Apr 13
  • SUP 1: 145.80/144.73 - Low Mar 13 / Low Feb 13
  • SUP 2: 144.15 - Low Jan 13
  • SUP 3: 143.68 - 3.0% 10-dma envelope

JGBs traded slightly higher through European and US hours, to remain clear of recent lows. The latest pullback appears to be a correction. Attention is on the 20-day EMA that intersects at 147.65 - it has been pierced. A clear break of the average would signal scope for a deeper retracement and open 145.80, the Mar 13 low. Attention remains on 149.53, the Mar 22 and the bull trigger. A break of this level would confirm a resumption of the uptrend.

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

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.