MNI Asian Morning FI Technical Analysis

31 July 2017

By Kyle Shortland

AUSSIE 3-YR TECHS: (U17) 97.980 Support Remains Key 

*RES 4: 98.116 - 100-DMA 

*RES 3: 98.093 - 200-DMA 

*RES 2: 98.080 - High June 30 

*RES 1: 98.050 - High July 27

*PRICE: 98.020 @ 2130GMT

*SUP 1: 97.980 - Alternating daily support/resistance 

*SUP 2: 97.940 - Low July 26 

*SUP 3: 97.928 - Bollinger band base 

*SUP 4: 97.900 - Hourly support July 20

*COMMENTARY: Bulls took comfort in the bounce from Wednesday's low that resulted

in a close above the 21-DMA (98.000) adding support to the bullish case although

the lack of follow through above 98.040 is less than ideal. In saying that,

bears still need a close below 97.980 to ease pressure on 98.050-080 and shift

immediate focus back to 98.940 and overall focus back to 97.860-900. Above

98.080 brings key DMAs 98.093-142 into focus.

AUSSIE 10-YR TECHS: (U17) Bears Need Close Below 98.2750 

*RES 4: 97.4477 - 55-DMA

*RES 3: 97.3828 - 100-DMA

*RES 2: 97.3492 - 200-DMA

*RES 1: 97.3350 - High July 13

*PRICE: 97.3050 @ 2130GMT

*SUP 1: 97.2750 - Low July 28

*SUP 2: 97.2500 - Hourly support July 26

*SUP 3: 97.2350 - Low July 26

*SUP 4: 97.2100 - Low July 20

*COMMENTARY: The contract continues to hesitate ahead of the 97.3350-3828 region

where 200 & 100-DMAs are situated. Bulls need a close above the 100-DMA to hint

at a shift higher in focus with a close above the 55-DMA to target 2017 highs.

Bears now need a close below 97.2750 to ease pressure on resistance layers and

below 97.1650 to target 2017 lows. Narrowing Bollinger bands are suggesting a

breakout in the near future.

US 10-YR FUTURE TECHS: (U17) 125-070/150 Support Remains Key

*RES 4: 126-290 - High June 26 

*RES 3: 126-120 - High July 21 & 24 

*RES 2: 126-060 - Daily Bear channel top 

*RES 1: 126-020 - Low July 24 now resistance

*PRICE: 125-300 @ 2130GMT

*SUP 1: 125-250 - Hourly support July 28

*SUP 2: 125-210 - Alternating hourly support/resistance

*SUP 3: 125-150 - Low July 25

*SUP 4: 125-080 - 100-DMA

*COMMENTARY: The 125-070/150 support region remains key with the 21-DMA noted at

125-080. Bulls take comfort in bounces from 125-150 although the 126-060/120

resistance region remains key. Bulls need a close above 126-120 to confirm a

break of the bear channel top and shift focus to 126-290/127-080 where 2017

highs are noted. Bears look for a close below 125-070 to end bullish hopes and

shift initial focus to 124-210/250.

US 10-YR YIELD TECHS: 2.229 & 2.337 Key

*RES 4: 2.375 - Hourly resistance July 11

*RES 3: 2.366 - High July 13

*RES 2: 2.357 - Daily Bear channel top

*RES 1: 2.337 - Hourly resistance July 14

*PRICE: 2.287 @ 2130GMT

*SUP 1: 2.276 - Low July 27 

*SUP 2: 2.252 - 55-DMA 

*SUP 3: 2.241 - Hourly support July 24 

*SUP 4: 2.229 - Low July 21, Low July 24

*COMMENTARY: Bears continue to take comfort in the 2.337 resistance remaining

unbroken with bulls needing a close above this level to see pressure back to

2.357-396 where the bear channel top and July highs are located. Correcting O/S

studies are the key concern for bears who now need a close below 2.276 to retain

focus on the key 2.229 support. A close below 2.229 remains needed to confirm

focus on 2017 lows.

JGB TECHS: (U17) Bulls Need Close Above 55-DMA 

*RES 4: 150.49 - 100-DMA

*RES 3: 150.37 - 55-DMA

*RES 2: 150.33 - High July 25

*RES 1: 150.27 - High July 27

*PRICE: 150.19 @ 2130GMT

*SUP 1: 150.07 - 21-DMA 

*SUP 2: 150.06 - Low July 20 

*SUP 3: 150.03 - Low July 18 

*SUP 4: 149.92 - Low July 17

*COMMENTARY: The bounce from the 21-DMA Wednesday provided bulls with hope but

layers of resistance 150.33-150.67 remain as issue. Bulls continue to look for a

close above the 55-DMA to hint at a shift higher in focus with above 150.67

confirming and targeting 2017 highs. Bears still need a close below 150.03 to

confirm a break of the 21-DMA and shift focus back to 149.65. Daily studies

correcting from O/B are the key concern for bulls.

--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com

[TOPICS: MTABLE]