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(Z3) Fresh Pullback Low

JGB TECHS
  • RES 3: 148.74 - High Jul 24
  • RES 2: 147.21 - High Aug 9
  • RES 1: 146.41 - High Sep 4
  • PRICE: 143.88 @ 15:40 GMT Oct 31
  • SUP 1: 143.57 - Low Oct 31
  • SUP 2: 143.29 - 2.618 proj of the Mar 22 - Apr 18 - May 12 swing
  • SUP 3: 143.04 - 1.0% 10-dma envelope

JGBs slipped further Monday, printing a new pullback low at 143.57, hitting a fresh multi-month low. The continuation lower and the clear break confirms a resumption of the medium-term downtrend and paves the way for weakness towards 143.29, the 2.618 proj of the Mar 22 - Apr 18 - May 12 swing. On the upside, clearance of 146.41, the Sep 4 high would instead highlight a base and a possible short-term reversal.

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

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