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(U2) Technical Outlook Tilts Positive

JGB TECHS
  • RES 3: 151.58 - 1.0% 10-dma envelope
  • RES 2: 151.13 - High Mar 3
  • RES 1: 150.79 - High Aug 02
  • PRICE: 150.45 @ 16:14 BST Aug 03
  • SUP 1: 149.00 - 1.0% Lower Bollinger Band
  • SUP 2: 147.15 - Low Jun 14
  • SUP 3: 146.82 - Low Jul 14 2015

JGBs extended recent strength Tuesday, with prices piercing and closing above key resistance at the 76.4% retracement for the 2022 downleg at 150.56. This puts prices further above the 200-dma, and marks a step change for the technical outlook. This tilts the near-term risks to a broader recovery. Further strength opens levels not seen since March at 151.13.

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  • RES 3: 151.58 - 1.0% 10-dma envelope
  • RES 2: 151.13 - High Mar 3
  • RES 1: 150.79 - High Aug 02
  • PRICE: 150.45 @ 16:14 BST Aug 03
  • SUP 1: 149.00 - 1.0% Lower Bollinger Band
  • SUP 2: 147.15 - Low Jun 14
  • SUP 3: 146.82 - Low Jul 14 2015

JGBs extended recent strength Tuesday, with prices piercing and closing above key resistance at the 76.4% retracement for the 2022 downleg at 150.56. This puts prices further above the 200-dma, and marks a step change for the technical outlook. This tilts the near-term risks to a broader recovery. Further strength opens levels not seen since March at 151.13.