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(Z0) Eyeing Resistance

JGB TECHS
  • RES 3: 152.53 - 1.50 proj of Aug 28 - Sep 4 rally from Sep 7 low
  • RES 2: 152.34 - 3.0% Upper Bollinger Band
  • RES 1: 152.29 - High Sep 24 and the bull trigger
  • PRICE: 152.05 @ 18:50 BST Oct 13
  • SUP 1: 151.75 - Low Oct 08 and key near-term support
  • SUP 2: 151.54 - Low Sep 7
  • SUP 3: 151.43 - Low Sep 1

JGBs continue their recovery and futures have climbed back above 152.00. The short-term outlook has improved for bulls and attention turns to resistance at 152.20, Sep 30 high where a break would expose the key resistance at 152.29, Sep 24 high and the bull trigger. A break of this level would confirm a resumption of the uptrend and open 152.34, a Bollinger band objective and 152.53, a Fibonacci projection. Support is at 151.75, Oct 8 low.

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