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(Z3) Just Above 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: 144.65 @ 16:20 GMT Nov 09
  • 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 trade steadier headed into the Friday session having printed a new pullback low at 143.57 last week. 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.

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