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(Z1) Downside Pressure Resumes

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: 151.13 @ 16:07 BST Oct 26
  • SUP 1: 151.08 - Low Oct 26
  • SUP 2: 150.88 - Low Apr 1
  • SUP 3: 150.38 - Low Feb 26

Downside pressure has resumed Tuesday, with JGBs erasing the minor corrective bounce, putting downside sentiment back to the fore. Weakness through 151.18 has opened 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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