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(U3) Watching Support

  • 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: 146.75 @ 15:29 BST Aug 28
  • SUP 1: 146.23 - Low Aug 03
  • SUP 2: 146.11 - Low Feb 22
  • SUP 3: 144.15 - Low Jan 13

JGBs traded lower last week and saw prices take out support at 146.50 to slip to 146.26, just above the Aug 3 low of 146.23. For now, the bear trigger at 146.11, Feb 22 low on the continuation contract, is yet to be tested with downside momentum likely to pick up on any break of that mark. Any return higher would target the May 12 high of 149.21 and 149.53, the Mar 22 high. Clearance of these levels would highlight an important break.

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