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(Z2) Remains Below Recent Highs

  • RES 3: 152.26 - High Dec 7 / 21 2021
  • RES 2: 151.13 - High Mar 3
  • RES 1: 150.81 - High Aug 5
  • PRICE: 148.80 @ 20:10 GMT Nov 29
  • 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 are trading at recent lows following the reversal from 149.75, the Nov 11 high. A continuation lower would expose support at 148.24, the Nov 4 low. If this level is cleared, scope would be seen for a move towards 147.35, Oct 21 low and 147.07, the Jun 20 low (cont). For bulls, key resistance has been defined at 150.81, the Aug 5 high where a break is required to suggest a stronger medium-term reversal.

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