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  • RES 3: 153.20 - 50% Mar'20 - Feb'21 Decline
  • RES 2: 153.02 - High Apr 28 2020
  • RES 1: 152.62 - High Jul 21 and the bull trigger
  • PRICE: 151.94 @ 17:07 BST Sep 03
  • SUP 1: 151.90 - Low Sep 03 and key near-term support
  • SUP 2: 151.49 - Low Jun 17
  • SUP 3: 150.88 - Low Apr 1

JGBs remain closer to recent lows. The trend outlook however is bullish. Price in July topped resistance at the 152.53 Fib retracement (38.2% of the 2020 - 2021 sell-off). This strengthens the bullish outlook and shifts the near-term target higher, to the 153.02 high printed in late April last year. The 50.0% retracement is at 153.20. Initial support is seen at 151.90, Sep 3 low where a break is required to signal scope for a deeper pullback.