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(Z2) Outlook Remains Bearish

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: 148.20 @ 18:08 BST Oct 14
  • 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

JGB futures continue to trade below 149.20, the Oct 5 high. Prices remain soft and the contract continues to trade at its recent lows, signalling scope for more downside. A continuation lower would place the contract within range of support at 147.62, the Sep 27 low. Clearance 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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