By Jason Sen
| Jan 29, 2013 10:59AM GMT |
JGB’s has broken 144.21/19 support and hit our target of 144.02-143.95 where we advised to take profit on any shorts here and we have bounced nicely off 143.99. However further weakness in today’s session is likely so any longs may be wise to exit below 144.19 for a retest of 144.02/95. Watch for a break lower today to target 143.85 then 143.67/63 for an excellent buying opportunity.
Resistance is at 144.20/23 then 144.42 on the way to last week’s high of 144.57/58. A break higher is highly unlikely but would see us towards 144.71, possibly 144.83. A push through here would then allow a closing of the gap up to 145.14.
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