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(Z2) Bearish Threat Still Present

JGB TECHS
  • RES 3: 152.26 - High Dec 7 / 21 2021
  • RES 2: 151.13 - High Mar 3
  • RES 1: 149.20/150.81 - High Aug 5 / High Aug 5
  • PRICE: 148.40 @ 20:30 BST Oct 11
  • SUP 1: 147.62 - Low Sep 27
  • SUP 2: 147.07 - Low Jun 20
  • SUP 3: 145.05 - Low Jun 16 and a key support

Recent JGB strength topped out at 149.20 on Oct 5. Prices remain soft and the move lower extended on Monday, signalling scope for more downside. A continuation lower would place prices within range of support at 147.62, the Sep 27 low. A break of this level would confirm a resumption of the bear cycle and open 147.07, the Jun 20 low. Key resistance for now remains intact at 150.81, the Aug 5 high.

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