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JGB TECHS: (Z9): Correction Firmly In Place
*RES 3: 153.93 - High Nov 6
*RES 2: 153.62 - Low Sep 17 and former breakout point
*RES 1: 153.46 - High Nov 7
*PRICE: 153.34 @ 19:23 GMT, Nov 14
*SUP 1: 152.79 - Low Nov 14
*SUP 2: 152.44 - Low Nov 13 and key support
*SUP 3: 152.39 - 1.618 projection of Sep 4 - Sep 17 decline from Sep 25 high
JGB futures have continued to recover with a corrective theme following last
weeks sell-off, firmly in place. With futures pushing higher again today,
attention turns to 153.62, Sep 17 low and the former breakout point. Clearance
of this level would open 153.93, Nov 6 high. A failure ahead of 153.62 is
required to suggest the return of bearish behaviour. This would signal scope for
a retest of the low earlier this week at 152.44.