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(Z1) Edging Lower

JGB TECHS
  • RES 3: 152.62 - High Jul 21 and the bull trigger
  • RES 2: 152.23 - High Aug 31
  • RES 1: 152.03 - 61.8% retracement of the Jul - Oct sell-off
  • PRICE: 151.59 @ 15:38 GMT Nov 12
  • SUP 1: 151.07 - Low Oct 27
  • SUP 2: 150.88 - Low Apr 1 (cont)
  • SUP 3: 150.38 - Low Feb 26 (cont)

JGB futures edged lower into the Friday close, but held above key support which continues to undercut at 151.07. Short-term strength has persisted, working against the bearish trend signal that had been dominant since mid-August. Resistance at 151.93, the Sep 10/16 highs has been probed, a clear break would open 152.23, Aug 31 high.

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