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(Z0): Remains Weak

JGB TECHS
  • RES 3: 153.06 - High Mar 31 and key resistance (cont)
  • RES 2: 152.55 - High Aug 5 (cont)
  • RES 1: 152.51 - 200-dma
  • PRICE: 151.46 @ 14:51 BST, Aug 31
  • SUP 1: 151.30 - Low Aug 28 (cont)
  • SUP 2: 151.26 - Jun 8 low (cont)
  • SUP 3: 150.61 - Low Mar 19 and key support (cont)

JGBs extended the range lower on Thursday last week, inching down to 151.30 on Abe's resignation before swiftly reversing. This is infitting with the current slightly bearish theme. This follows the move lower between Aug 5 and Aug 14, which signals scope for a stronger round of weakness and exposes 151.18, the Jun 8 low. On the upside, gains above the 200-dma is needed to open the 153.00 handle and levels not seen since March.

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

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