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(U3) Is Through Resistance

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: 148.67 @ 16:20 BST Jun 22
  • SUP 1: 147.34 - Low May 26
  • SUP 2: 146.11 - Low Feb 22
  • SUP 3: 144.15 - Low Jan 13

JGBs continue to operate above support at 147.34, the May 26 low. The contract has breached 148.41, the May 12 high. This strengthens a bullish case and signals scope for a climb towards the next key resistance at 149.21/53, highs from May and March. Clearance of these levels would highlight an important break. To the downside, a breach of 147.34 would signal a stronger reversal and open 146.11, the Feb 22 low.

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

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