Free Trial

(U9) Finishes week quietly *RES 3:........>

JGB TECHS
JGB TECHS: (U9) Finishes week quietly
*RES 3: 154.16 - 3.0% Upper Bollinger Band
*RES 2: 153.85 - Broken Trendline Resistance
*RES 1: 154.13 - Cycle High
*PRICE: 153.73 @ 15:09 GMT, Jul 26
*SUP 1: 153.47/32 - 50-dma/Weekly Low
*SUP 2: 153.15 - 61.8% 152.54 - 154.13
*SUP 3: 153.12 - 100-dma
JGB futures went nowhere Friday, doing little to change the technical picture.
Thursday saw JGBs clock the first daily loss of the week. The positive outlook
is still in tact, however, with a move below the 153.32 weekly low needed to
damage the current mini-rally. Bulls face their first test at 153.82, the 61.8%
retracement of the June-July pullback and a rally north of here will re-open
cycle highs. To the downside, the 50-dma remains a decent level of support,
which will be the first target for bears. A close below that mark will switch
the medium-term trend more bearish, opening the 153.15 mark and 153.12 below.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.