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(Z0): Resumes Its Current Uptrend

JGB TECHS
  • RES 3: 152.00 - Round number resistance
  • RES 2: 151.95 - 0.618 proj of Aug 28 - Sep 4 rally from the Sep 7 low
  • RES 1: 151.89 - High Sep 9
  • PRICE: 151.87 @ 17:40 BST, Sep 8
  • SUP 1: 151.54 - Low Sep 7 and key near-term support
  • SUP 2: 151.43 - Low Sep 1
  • SUP 3: 151.20 - Low Aug 28
JGBs are higher today and have recovered the ground lost in the sell-off between Sep 4 - 7. The break of resistance at 151.86, Sep 4 high, confirms a resumption of the recovery that has dominated since the reversal off the Aug 28 low of 151.20. This signals scope for gains towards 151.95, a Fibonacci projection and the 152.00 handle. On the downside, key short-term support has been defined at 151.54.

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