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(U2) Bounce Accelerates

JGB TECHS
  • RES 3: 151.13 - High Mar 3
  • RES 2: 150.44 - High Mar 14
  • RES 1: 150.42 - High Jul 22
  • PRICE: 150.23 @ 16:30 BST Jul 25
  • SUP 1: 147.93 - 3.0% Lower Bollinger Band
  • SUP 2: 147.15 - Low Jun 14
  • SUP 3: 146.82 - Low Jul 14 2015

JGBs pierced the 200-dma on the continuation contract Friday, marking a step change in the technical outlook and tilting the near-term risks to a broader near-term recovery. Further strength opens the first upside hurdle at the Mar 14 high at 150.44 ahead of 150.56 - the 76.4% retracement of the December - June downleg.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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