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Free AccessMNI Asian Morning FI Technical Analysis
12 January 2018
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 97.910
*RES 4: 97.938 - 100-DMA
*RES 3: 97.910 - Hourly resistance Dec 18
*RES 2: 97.868 - 21-DMA
*RES 1: 97.855 - High Jan 10
*PRICE: 97.825 @ 2030GMT
*SUP 1: 97.800 - Hourly support Jan 11
*SUP 2: 97.770 - Low Sept 22
*SUP 3: 97.720 - 2017 Low Sept 21
*SUP 4: 97.605 - 2015 Low Dec 12
*COMMENTARY: The 21-DMA has capped the recovery from Dec lows and ensures that
focus remains on the 97.720-770 support region. The lack of downside follow
through Wednesday is less than I deal for bears. In saying that, bull continue
to look for a close above 97.910 to confirm a break of the 21-DMA and above the
55-DMA (97.969) to shift immediate focus to 98.015-065 where the 200-DMA
(98.035) is located.
AUSSIE 10-YR TECHS: (H18) 97.3100-4000 Resistance Region Key
*RES 4: 97.3646 - 200-DMA
*RES 3: 97.3400 - High Jan 9
*RES 2: 97.3100 - Hourly support Jan 4 now resistance
*RES 1: 97.2800 - Hourly support Jan 3 now resistance
*PRICE: 97.2550 @ 2030GMT
*SUP 1: 97.2243 - 200-WMA
*SUP 2: 97.2100 - Low Jan 10
*SUP 3: 97.1450 - Low Oct 25
*SUP 4: 97.0900 - Monthly Low Oct 3
*COMMENTARY: The lack of follow through on the break of 97.2200 is less than
ideal with the contract flirting with the 200-WMA. Bears now need a close below
97.2100 to confirm a break and shift focus to 97.0750-1450 where monthly lows
are located. Bulls continue to look for a close above 97.3100 to ease bearish
pressure and above 97.4000 to shift focus to 97.5200.
US 10-YR FUTURE TECHS: (H18) 123-09+/24+ Resistance Key
*RES 4: 124-02+ High Dec 29
*RES 3: 123-24+ 21-DMA
*RES 2: 123-20 High Jan 8
*RES 1: 123-09 Hourly support Jan 9 now resistance
*PRICE: 123-03 @ 2030GMT
*SUP 1: 122-27+ Low Jan 11
*SUP 2: 122-22+ Monthly Low Apr 4 2014, 2018 Low Jan 10
*SUP 3: 121-22+ Monthly Low July 1 2011
*SUP 4: 120-25+ Low Apr 29 2011
*COMMENTARY: Fresh 3+yr lows resulted in a dip below the bear channel base
before finding support at 122-22+. Bears now look for a close below this level
to shift focus to 120-25+/121-22+. The Bollinger base (122-27+) is a concern for
bears and limits follow through. Layers of resistance remain with bulls needing
a close above 123-09 to ease bearish pressure and above the 21-DMA to shift
focus to 124-02+/13+ where the bear channel top and 55-DMA are noted.
US 10-YR YIELD TECHS: 2.504 Support Key Today
*RES 4: 2.641 - 2016 High Dec 15
*RES 3: 2.629 - 2017 High Mar 13
*RES 2: 2.597 - 2018 High Jan 10
*RES 1: 2.570 - High Jan 11
*PRICE: 2.537 @ 2030GMT
*SUP 1: 2.504 - High Dec 21 now support
*SUP 2: 2.462 - Low Jan 8
*SUP 3: 2.451 - 21-DMA
*SUP 4: 2.429 - Daily Bull channel base
*COMMENTARY: The lack of topside follow through on fresh 10mth highs is a
concern for bulls who are currently focused on 2.629-692 where yearly and
monthly highs are situated. Daily studies have room to move before O/B becomes
an issue. Bears continue to look for a close below 2.504 to gain breathing room
and hint at a correction back to 2.399-2.450 where the 21 & 55-DMAs and bull
channel base off Sept lows are noted.
JGB TECHS: (H18) Above 200-DMA To Ease Bearish Pressure
*RES 4: 150.84 - 2018 High Jan 4
*RES 3: 150.77 - 55-DMA, 100-DMA
*RES 2: 150.63 - 200-DMA
*RES 1: 150.54 - High Jan 11
*PRICE: 150.37 @ 2030GMT
*SUP 1: 150.30 - 2018 Low Jan 10
*SUP 2: 150.19 - Low Oct 23
*SUP 3: 150.08 - Monthly Low Oct 3
*SUP 4: 150.06 - Low July 20
*COMMENTARY: Having remained capped around the 21-DMA the past couple of weeks
has taken its toll with a sell-off and bearish close Tuesday that sees focus
back on layers of support 150.06-19 where monthly lows are situated. Daily
studies have room to move before O/S is an issue. The 200-DMA remains key
resistance with bulls needing a close above this level to ease immediate bearish
pressure and above 150.84 to shift focus to 151.01-21.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.