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(Z1) Remains Toward Top End of Recent Range

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: 151.76 @ 16:19 GMT Nov 11
  • 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 continue to trade toward the top end of the recent range, keeping the market bias pointed higher for now. 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. Key support has been defined at 151.07.

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