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(Z1) Bearish Trend In Play

JGB TECHS
  • RES 3: 153.02 - High Apr 28 2020
  • RES 2: 152.62 - High Jul 21 and the bull trigger
  • RES 1: 151.93 High Sep 10 / 15
  • PRICE: 151.35 @ 15:23 BST Oct 13
  • SUP 1: 151.18 - Low Oct 08 / 11
  • SUP 2: 150.88 - Low Apr 1
  • SUP 3: 150.38 - Low Feb 26

The sell-off in JGBs resumed on Friday, following the lead of US Treasuries. This narrows the gap with next key support at the 61.8% Fib for the February - July rally at 151.24. Weakness through here opens 150.88 and below. For the upside argument to firm, markets need to solidify the recovery above the 151.50 level initially ahead of the 200-dma at 151.69.

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

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