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(Z3) Watching Support

JGB TECHS
  • RES 3: 151.26 - High Mar 3 2022
  • RES 2: 149.75/150.81 - High Nov 11 / High Aug 5 2022
  • RES 1: 149.21/53 High May 12 / High Mar 22
  • PRICE: 146.23 @ 16:24 BST Sep 08
  • SUP 1: 146.15 - Low Sep 11
  • SUP 2: 145.85 - Low Sep 06
  • SUP 3: 144.68 - 1.0% 10-dma envelope

JGBs traded lower mid-week and saw prices take out support print down at 148.85 for the Z3 contract. For now, this level remains the first downside support, ahead of vol-band based 144.68, with downside momentum likely to pick up on any break of that mark. Any return higher would target the May 12 high on the continuation contract at 149.21 and 149.53, the Mar 22 high. Clearance of these levels would highlight an important break.

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