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(U2) Solid Bounce at Midweek

JGB TECHS
  • RES 3: 151.13 - High Mar 3
  • RES 2: 150.44 - High Mar 14
  • RES 1: 150.14 - High Apr 1 and key resistance
  • PRICE: 149.05 @ 15:52 BST Jul 8
  • SUP 1: 147.15 - Low Jun 14
  • SUP 2: 147.08 - 3.0% Lower Bollinger Band
  • SUP 3: 146.82 - Low Jul 14 2015

JGBs extended the near-term corrective bounce mid-week, putting the recent highs back under pressure. This extends the recovery off last week’s lows. Nonetheless, the broader outlook remains negative after JGB futures showed below the 1.0% 10-dma envelope for the first time since the depths of the COVID-19 crisis, touching 147.15 on the pull lower. The next downside level crosses at 147.08, the 3.0% lower Bollinger Band ahead of 146.82 - the low from July 14th 2015.

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