MNI Asian Morning FI Technical Analysis

29 December 2017

By Kyle Shortland

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

http://tinyurl.com/phluope

AUSSIE 3-YR TECHS: (H18) Bulls Need Close Above 97.855 

*RES 4: 97.971 - 55-DMA 

*RES 3: 97.955 - 100-DMA 

*RES 2: 97.910 - Hourly resistance Dec 18 

*RES 1: 97.855 - High Dec 21

*PRICE: 97.805 @ 2030GMT

*SUP 1: 97.770 - Low Sept 22 

*SUP 2: 97.720 - 2017 Low Sept 21 

*SUP 3: 97.605 - 2015 Low Dec 12 

*SUP 4: 97.550 - Monthly Low Dec 3 2014

*COMMENTARY: O/S daily studies appear to be impacting with hesitation ahead of

the 97.720-770 support region resulting in a bounce Wednesday. Bulls continue to

look for a close above 97.855 to ease bearish pressure and above 97.910 to shift

immediate focus back to 97.955-98.041 where key DMAs are clustered. While 97.855

caps bears remain focused on tests of 2017 lows.

AUSSIE 10-YR TECHS: (H18) Bulls Need Close Above 21-DMA 

*RES 4: 97.4400 - High Dec 18

*RES 3: 97.4064 - 21-DMA

*RES 2: 97.3650 - Low Dec 17 now resistance

*RES 1: 97.3575 - 55-DMA

*PRICE: 97.3050 @ 2030GMT

*SUP 1: 97.2800 - Hourly resistance Dec 27 now support

*SUP 2: 97.2400 - Low Dec 27

*SUP 3: 97.2200 - High Oct 25 now support

*SUP 4: 97.2105 - 200-WMA

*COMMENTARY: Bears failed to trouble the key 97.2200 support with O/S daily

studies impacting and the contract correcting back towards layers of resistance.

Bulls now need a close above the 21-DMA to end bearish hopes and shift immediate

focus to tests of 97.5200 Nov highs. Support layers are building and adding to

bullish confidence. Bears now need a close below 97.2800 to retain focus on

97.2200-2400.

US 10-YR FUTURE TECHS: (H18) Bears Need Close Below 123-21+

*RES 4: 124-23 High Dec 6

*RES 3: 124-18+ Daily Bear channel top

*RES 2: 124-15+ 55-DMA

*RES 1: 124-03+ 21-DMA

*PRICE: 123-26 @ 2030GMT

*SUP 1: 123-21+ High Dec 27 now support

*SUP 2: 123-12+ Low Dec 21

*SUP 3: 123-07+ High Mar 13 now support

*SUP 4: 123-00+ Daily Bear channel base

*COMMENTARY: Bulls take comfort in the bounce Wednesday that saw bearish

pressure eased and focus return to layers of resistance 124-03/23 where 21 &

55-DMAs and the bear channel top are situated. Bulls need a close above 124-23

to hint at a move back to 125-25+. The 123-21+ support remains key. Bears need a

close below this level to reconfirm dominance and return pressure to 123-00+/12+

where the bear channel base is noted.

US 10-YR YIELD TECHS: Focus Now On 2.344-398

*RES 4: 2.504 - High Dec 21 

*RES 3: 2.479 - High Dec 27 

*RES 2: 2.459 - Low Dec 26 now resistance 

*RES 1: 2.441 - High Dec 28

*PRICE: 2.432 @ 2030GMT

*SUP 1: 2.402 - 21-DMA 

*SUP 2: 2.373 - 55-DMA 

*SUP 3: 2.344 - Low Dec 14 

*SUP 4: 2.298 - 200-DMA

*COMMENTARY: Hesitation ahead of the weekly bear channel top (2.534) combined

with waning momentum provided the impetus for a correction that eased bullish

pressure. Focus returned to 2.344-402 where key DMAs and the bull channel base

are noted. Bears now need a close below 2.344 to confirm breaks and initially

pressure the 200-DMA. Bulls now need a close above 2.441 to gain breathing room

and above 2.479 to shift focus higher.

JGB TECHS: (H18) Bulls Need Close Above 150.81 

*RES 4: 151.05 - High Dec 8

*RES 3: 151.01 - High Dec 18

*RES 2: 150.93 - Hourly support Dec 19 now resistance

*RES 1: 150.81 - Hourly support Dec 20 now resistance

*PRICE: 150.72 @ 2030GMT

*SUP 1: 150.65 - Hourly support Dec 21 

*SUP 2: 150.53 - Low Dec 21 

*SUP 3: 150.08 - Monthly Low Oct 3 

*SUP 4: 150.06 - Low July 20

*COMMENTARY: The lack of follow through on the marginal break of 150.54 was less

than ideal for bears who continue to look for a close below 150.53 to confirm

focus on 150.06-19 where monthly lows are noted. Initial resistance remains at

150.81. Bulls still need a close above 150.81 to ease bearish pressure and shift

initial focus back to 151.01-05 with potential for a move back to 151.19-21

where monthly highs are noted.

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

[TOPICS: MTABLE]