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(Z0) Still Heavy

JGB TECHS
  • RES 3: 152.53 - 1.50 proj of Aug 28 - Sep 4 rally from Sep 7 low
  • RES 2: 152.45 - 3.0% Upper Bollinger Band
  • RES 1: 152.29 - High Sep 24 and the bull trigger
  • PRICE: 151.93 @ 16:04 BST Oct 9
  • SUP 1: 151.75 - Low Oct 08
  • SUP 2: 151.54 - Low Sep 7 and key near-term support
  • SUP 3: 151.43 - Low Sep 1

JGBs remain below recent lows and price remains under pressure over the short-term. Price has traded through both 152.00 and the initial support at 151.97, Oct 2 low. This signals scope for a deeper corrective pullback. The move to 151.75 has countered the bullish trend perspective and turns the outlook more neutral. For the upside argument to strengthen, markets need to take out 152.45 and 152.53. The bull trigger is at 152.29, Sep 24 high.

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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