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MNI Asian Morning FI Technical Analysis

12 January 2018
By Kyle Shortland
Click below for today's MNI FI Technical Analysis Report -
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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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