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(Z1) Fades Recent Strength

JGB TECHS
  • RES 3: 152.66 - 0.5% 10-dma envelope
  • RES 2: 152.62 - High Jul 21 and the bull trigger
  • RES 1: 152.27 - High Dec 06
  • PRICE: 152.01 @ 15:55 GMT Dec 08
  • SUP 1: 151.92 - Low Dec 2
  • SUP 2: 150.88 - Low Apr 1 (cont)
  • SUP 3: 150.38 - Low Feb 26 (cont)

JGB futures secured a strong weekly close on Friday, with prices rallying to touch 152.62, a new multi-month high. Prices have faded since, however, opening 151.92 support as the next downside level. The strong weekly close should, across the medium-term, open levels not seen since early September, with 152.62 now the first target.

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

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