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(U3) Bought-on-Dips Theme Returns

JGB TECHS
  • RES 3: 151.26 - High Mar 3 2022
  • RES 2: 149.75/150.81 - High Nov 11 / High Aug 5 2022
  • RES 1: 149.21/53 High May 12 / High Mar 22
  • PRICE: 147.08 @ 16:25 BST Aug 09
  • SUP 1: 146.23 - Low Aug 03
  • SUP 2: 146.11 - Low Feb 22
  • SUP 3: 144.15 - Low Jan 13

JGBs returned higher again Wednesday close, bouncing off the recent pullback lows. The phase of weakness that began Monday has since reversed, steering markets clear of a test of key support at the 146.11 low on the continuation contract - last printed back in February. The previous buy-on-dips theme appears to have returned, but any return higher will initially target the May 12 high of 149.21. Clearance of these levels would highlight an important break.

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