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Remains Vulnerable


Trend Needle Points North


Bonds Near Highs, Yield Curves Flatter


Bearish Outlook

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(U0): Swift Intraday Reversal

  • RES 3: 153.06 - High Mar 31 and key resistance
  • RES 2: 152.55 - High Aug 5
  • RES 1: 152.51 - 200-dma
  • PRICE: 151.59 @ 17:03 BST, Aug 27
  • SUP 1: 151.30 - Low Aug 28
  • SUP 2: 151.26 - Jun 8 low
  • SUP 3: 150.61 - Low Mar 19 and key support

JGBs extended the range lower Thursday, inching down to 151.30 on Abe's resignation before swiftly reversing. This broadly keeps the outlook unchanged and leaning bearish. This follows the move lower between Aug 5 and Aug 14, which signals scope for a stronger round of weakness and exposes 151.18, the Jun 8 low. On the upside, gains above the 200-dma is needed to open the 153.00 handle and levels not seen since March.

MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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