Free Trial

(Z18) Back To Neutral *RES 3: 150.58 -....>

JGB TECHS
JGB TECHS: (Z18) Back To Neutral
*RES 3: 150.58 - High Aug 22
*RES 2: 150.45 - 50-DMA (Continuation chart)
*RES 1: 150.38 - 50% 151.00-149.75
*PRICE: 150.20 @ 16:36 GMT, Oct 17
*SUP 1: 149.75 - Spike Low Aug 2
*SUP 2: 149.65 - Spike Low Jul 7, 17 (Continuation chart)
*SUP 3: 149.38 - Spike Low Dec 2, 16 (Continuation chart)
Despite the break of key short-term resistance Monday at 150.22 and breaking
above the July downtrend, prices pulled failed to find a higher gear Wednesday
and retained a tight range, frustrating bulls. A recovery through, and close
above, the 50-dma at 150.25 will be needed to cement any upward move, which
should prompt attention to turn to the 150.38 Fib level. 149.95 remains the base
for JGB futures for now, which should continue to provide some modest support. A
break below 149.95 would open the Aug 2 spike low at 149.75 and 149.65 below
there.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.