An interesting setup in JGBs ...
Here we can see the market breaking out of a multi year trend with a confirmed retest. It has held the target for an expanding or running flat from Feb 2017 highs.
For those who are familiar with oscillators you will have noticed the positive divergence. This means it is time to start paying attention as we are forming a base in trend.
The next two levels in play at the 38.2% and 50% retracements. If this truly a 'C' wave from the lows then we have the potential to take out the double top from Feb 2017 and October 2018. Targets on the break come in at 0.153 - 0.165% ... this asset moving will have huge importance for those exposed to Japan.
Best of luck all positioning for the coming moves in Asia.
For those who are familiar with oscillators you will have noticed the positive divergence. This means it is time to start paying attention as we are forming a base in trend.
The next two levels in play at the 38.2% and 50% retracements. If this truly a 'C' wave from the lows then we have the potential to take out the double top from Feb 2017 and October 2018. Targets on the break come in at 0.153 - 0.165% ... this asset moving will have huge importance for those exposed to Japan.
Best of luck all positioning for the coming moves in Asia.
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JGBs starting to find a bid...
