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(M4) Just Above Key Support

JGB TECHS
  • RES 3: 148.74 - High Jul 24
  • RES 2: 147.74 - High Jan 15 and bull trigger
  • RES 1: 145.95 - High Mar 25 1
  • PRICE: 143.61 @ 15:58 BST May 23
  • SUP 1: 143.47 - Low May 22
  • SUP 2: 143.44 - Low Oct 31 (cont) and the bear trigger
  • SUP 3: 141.65 - 1.00 proj of Mar 22 - Nov 1 ‘23 - Jan 15 price swing

A bear trend in JGB futures persists, erasing the corrective bounce last week. The contract is for now trading just above key support and bear trigger at 143.44, the Nov 1 low. A stronger reversal higher is required to signal the end of the recent downward phase. Key resistance is at 145.95, the Mar 28 high. A break would signal scope for a climb towards the bull trigger at 147.74, the mid-January high.

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  • RES 3: 148.74 - High Jul 24
  • RES 2: 147.74 - High Jan 15 and bull trigger
  • RES 1: 145.95 - High Mar 25 1
  • PRICE: 143.61 @ 15:58 BST May 23
  • SUP 1: 143.47 - Low May 22
  • SUP 2: 143.44 - Low Oct 31 (cont) and the bear trigger
  • SUP 3: 141.65 - 1.00 proj of Mar 22 - Nov 1 ‘23 - Jan 15 price swing

A bear trend in JGB futures persists, erasing the corrective bounce last week. The contract is for now trading just above key support and bear trigger at 143.44, the Nov 1 low. A stronger reversal higher is required to signal the end of the recent downward phase. Key resistance is at 145.95, the Mar 28 high. A break would signal scope for a climb towards the bull trigger at 147.74, the mid-January high.