Free Trial

(Z9) Downside slows *RES 3: 155.70 -......>

JGB TECHS
JGB TECHS: (Z9) Downside slows
*RES 3: 155.70 - 2.0% Upper Bollinger Band
*RES 2: 155.53 - Cycle High
*RES 1: 155.48 - Recovery high
*PRICE: 154.63 @ 15:48 GMT, Oct 1
*SUP 1: 153.49 - Aug 2 Low
*SUP 2: 153.30 - 200-dma
*SUP 3: 153.29 - 1.0% 10-dma envelope
Cycle highs remain on the cards for bulls, but momentum faltered into the
beginning of this week which carried through into the Tuesday session. JGB
futures stabilised somewhat, but the bias remains lower the longer prices hold
below 155. Bulls retain their sights on 155.53 and the Vol band resistance
beyond. This week's moves keep the near-term outlook constructive with the
confirmed close above the 50-dma also helping the upside argument. Bears can
easily tip the balance back to negative, with envelope support at 153.29 the
medium-term target. The 200-dma remains well within range for bears.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.