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(M3) Fades Off Highs, But Holds Bulk of Rally

JGB TECHS
Fixed Income Technical AnalysisHomepageBond Market Newsmarkets-real-timeBulletMarketsFixed Income News
  • RES 3: 151.13 - High Mar 3
  • RES 2: 149.75/150.81 - High Nov 11 / High Aug 5
  • RES 1: 148.99 High Mar 13
  • PRICE: 147.48 @ 16:13 GMT Mar 14
  • SUP 1: 144.93 - Low Mar 9
  • SUP 2: 144.15 - Low Jan 13
  • SUP 3: 143.86 - 1.0% 10-dma envelope

JGBs rallied sharply into the Friday close and added to those gains throughout Monday trade. Prices have faded since, however, but the bulk of the recent gains have been held. 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, 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.

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  • RES 3: 151.13 - High Mar 3
  • RES 2: 149.75/150.81 - High Nov 11 / High Aug 5
  • RES 1: 148.99 High Mar 13
  • PRICE: 147.48 @ 16:13 GMT Mar 14
  • SUP 1: 144.93 - Low Mar 9
  • SUP 2: 144.15 - Low Jan 13
  • SUP 3: 143.86 - 1.0% 10-dma envelope

JGBs rallied sharply into the Friday close and added to those gains throughout Monday trade. Prices have faded since, however, but the bulk of the recent gains have been held. 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, 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.