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(Z3) Crests at New Multi-Month Highs

JGB TECHS
  • RES 3: 148.74 - High Jul 24
  • RES 2: 147.21 - High Aug 9
  • RES 1: 147.16 - High Nov 30
  • PRICE: 146.43 @ 16:21 GMT Nov 30
  • SUP 1: 143.44 - Low Oct 31
  • SUP 2: 143.29 - 2.618 proj of the Mar 22 - Apr 18 - May 12 swing
  • SUP 3: 142.83 - 1.0% 10-dma envelope

JGBs move from strength to strength into end-November, rising to a new multi-month high Thursday to trade at levels last seen back in August on the continuation contract. This notably extends the recovery off the early November pullback low and keeps the S/T outlook tilted higher. 147.21 marks the next key upside level, the Aug 9 high. The break of 146.41, the Sep 4 high, is an important one, and marks a short-term reversal. 143.44, the Oct 31 low, marks key support should 144.93 give way.

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

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