MNI ASIA Fixed Income Technical Analysis

By Les Castell

     Click below for today's MNI FI Technical Analysis Report -

http://tinyurl.com/phluope

AUSSIE 3-YEAR TECHS: (Z17) Correcting After last Weeks Failure At 98.080

*RES 4:  98.140 Repeated daily highs June

*RES 3:  98.120 76.4% Fibo of 98.240-97.720

*RES 2:  98.080 Nov 5, Nov 6 highs

*RES 1:  98.060 Nov 7 high

*PRICE:  98.000 @ 2315GMT

*SUP 1:  97.980 Nov 3 low

*SUP 2:  97.940 Oct 27 high, 38.2% of 97.720-98.080

*SUP 3:  97.900 Oct 27, 30 lows, 50% of 97.720-98.080

*SUP 4:  97.850 Congestion area mid Oct, 61.8% 97.720-98.080

*COMMENTARY* Unable to sustain a break above the previous 98.030 resistance last

week. A high of 98.080 before succumbing to some near term overbought

conditions. This sees the Nov 3 low at 97.980 as the first support of note and

protection against a greater correction of gains seen since the Sep 21 low at

97.720. Meanwhile, resistance falls slightly to 98.060, back above here needed

before the upside back in vogue.

     AUSSIE 10-YEAR TECHS: (Z17) 97.3100-97.3000 Provide Next Decent Support

Area

*RES 4:  97.4350 Nov 6 high

*RES 3:  97.4100 Congestion area Nov 6-Nov 8

*RES 2:  97.4000 Nov 9 high

*RES 1:  97.3800 Nov 10 high

*PRICE:  97.3300 @ 2328GMT

*SUP 1:  97.3150 Oct 31 high, now support

*SUP 2:  97.3100 Nov 2 low

*SUP 3:  97.3000 76.4% Fibo of 97.260-97.435

*SUP 4:  97.2600 Nov 1 low

*COMMENTARY* Last week saw the pullback from the Nov 6 high at 97.4350 continue.

This has so far fallen just below support from the 61.8% Fibo retrace level at

97.3250. The Oct 31 high at 97.3150 and the Nov 2 low at 97.3100 now act as

protection against any further losses and perhaps a run at 97.3000 next. In the

meantime. look to Friday's 97.3800 high for resistance and the bar to any near

term recovery hopes.

US 10YR FUTURE TECHS: (Z17) Decline Edges Towards A Test Of key 124-155 Support

*RES 4: 125-195 38.2% Fibo of 127-285/124-060

*RES 3: 125-150/160 Nov 7, Oct 19 highs

*RES 2: 125-080 Series hourly highs Nov 9

*RES 1: 125-015 Hourly resistance

*PRICE: 124-220 @2335GMT

*SUP 1: 124-200 Hourly support

*SUP 2: 124-155 Hourly basing area Oct 25-26

*SUP 3: 124-060/065 Oct 25, Mar 29 lows

*SUP 4: 123-255 1% volatility band

*COMMENTARY* Unable to sustain a break above the 76.4% Fibo retrace level at

125-135. A high of 125-150 last week and failed to challenge resistance from

between the higher 125-160/125-195 area. The subsequent fall below 125-005 was

the immediate concern, a low of 124-200 so far, with the downside still

protected by the lower 124-155 level. In the meantime, look to 125-015/125-080

for resistance.

JGB TECHS: (Z17) Falling Away After Challenge To 76.4% Fibo Level

*RES 4:  151.17 Sep 12 high

*RES 3:  151.07 Nov 8 high, 76.4% Fibo of 151.37-150.08

*RES 2:  151.00 Hourly recovery high Nov 9

*RES 1:  150.89 Nov 9 low, now resistance

*PRICE:  150.76 @ 2355GMT

*SUP 1:  150.72 Nov 10 low

*SUP 2:  150.66/67 Nov 2 high, 61.8% Fibo of 150.42-151.07

*SUP 3:  150.57/59 76.4% of 150.42-151.07, Oct 6 high  

*SUP 4:  150.53 Nov 1 high, now support

*COMMENTARY* Gapped lower on Friday, following last week's challenge to the

76.4% Fibo retrace level at 151.07. A low of 150.72 so far, as we initially give

back some of the gains made from this month's earlier 150.42 base. Any lower and

look to the 150.67-150.66 area for next support. This then protecting what looks

to be a stronger region between the Oct 6 high at 150.59 and the 150.57 Fibo

retrace level. Meanwhile, 150.89-151.00 provides resistance.

--MNI London Bureau;tel: +44 207-862-7495; email: les.castell@marketnews.com

[TOPICS: MTABLE]