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(M3) Corrects Lower

JGB TECHS
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income News
  • 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: 148.53 @ 16:25 BST May 26
  • SUP 1: 147.31/27 - 50-day EMA / Low Apr 18
  • SUP 2: 145.80/144.73 - Low Mar 13 / Low Feb 13
  • SUP 3: 144.15 - Low Jan 13

JGBs slid sharply Thursday, as hawkish Ueda comments prompted a correction. The bounce Friday helped stall any more protracted pullback, although the gap with next resistance at 149.17 remains. The strong recovery from 147.27, the Apr 18 low confirms the corrective nature of the recent pullback, keeping medium-term attention on 149.53, the Mar 22 high and the bull trigger. A break of this level would confirm a resumption of the uptrend. To the downside, the 50-dma provides support at 147.31, just above the Apr 18 low.

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  • 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: 148.53 @ 16:25 BST May 26
  • SUP 1: 147.31/27 - 50-day EMA / Low Apr 18
  • SUP 2: 145.80/144.73 - Low Mar 13 / Low Feb 13
  • SUP 3: 144.15 - Low Jan 13

JGBs slid sharply Thursday, as hawkish Ueda comments prompted a correction. The bounce Friday helped stall any more protracted pullback, although the gap with next resistance at 149.17 remains. The strong recovery from 147.27, the Apr 18 low confirms the corrective nature of the recent pullback, keeping medium-term attention on 149.53, the Mar 22 high and the bull trigger. A break of this level would confirm a resumption of the uptrend. To the downside, the 50-dma provides support at 147.31, just above the Apr 18 low.