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(Z2) Improves Off Lower Level

JGB TECHS
  • RES 3: 152.26 - High Dec 7 / 21 2021
  • RES 2: 151.13 - High Mar 3
  • RES 1: 150.81 - High Aug 5
  • PRICE: 149.67 @ 15:49 GMT Nov 09
  • SUP 1: 147.38 - Low Oct 21
  • SUP 2: 147.07 - Low Jun 20
  • SUP 3: 145.05 - Low Jun 16 and a key support

JGB futures traded lower last week, but were generally stable into the Friday close. This confirms the corrective nature of short-term gains with the primary trend direction still down. Key resistance has been defined at 150.81, the Aug 5 high where a break is required to suggest a stronger reversal. A reversal lower would signal a resumption of the primary downtrend and this would open 147.07, the Jun 20 low (cont).

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

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