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MNI Asian Morning FI Technical Analysis 

26 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 Still Need Close Above 97.780 
*RES 4: 97.855 - High Jan 10 
*RES 3: 97.804 - 21-DMA 
*RES 2: 97.780 - High Jan 17 
*RES 1: 97.770 - High Jan 24
*PRICE: 97.750 @ 2030GMT
*SUP 1: 97.715 - Low Jan 24 
*SUP 2: 97.690 - 2018 Low Jan 19 
*SUP 3: 97.605 - 2015 Low Dec 12 
*SUP 4: 97.550 - Low Dec 3 2014
*COMMENTARY: Bears take comfort in the contract remaining capped ahead of the
97.780-804 region where the 21-DMA is located following the bounce form 2018
lows. The contract remains heavy despite daily studies correcting from O/S. The
lack of topside follow through past 2 days adds weight to the bearish case and
sees immediate focus on 97.690 with bears currently focused on 2015 lows.
AUSSIE 10-YR TECHS: (H18) 97.2200-2455 Resistance Region Key 
*RES 4: 97.2455 - 21-DMA
*RES 3: 97.2200 - Hourly support Jan 17 now resistance
*RES 2: 97.2050 - High Jan 24
*RES 1: 97.1700 - High Jan 25
*PRICE: 97.1500 @ 2030GMT
*SUP 1: 97.1250 - Low Jan 25
*SUP 2: 97.0900 - Monthly Low Oct 3
*SUP 3: 97.0750 - Monthly Low Sept 21
*SUP 4: 96.9875 - 2017 Low Mar 10
*COMMENTARY: Bulls have so far failed to capitalise on the recovery from 2018
lows with daily studies correcting from O/S adding support. Support emerging on
dips is a concern for bears who remain focused on 97.0750-0900 and a close below
to pressure 2017 lows. Bulls need a close above 97.2200 to gain breathing room
and above the 100-DMA (97.2980) to shift focus to 97.3523-4000 where 55 &
200-DMAs are noted.
US 10-YR FUTURE TECHS: (H18) 122-20 Resistance Remains Key
*RES 4: 123-09 Hourly support Jan 9 now resistance
*RES 3: 123-05+ Highs Jan 11 & 16, 21-DMA
*RES 2: 122-30 Hourly resistance Jan 17
*RES 1: 122-20 Low Jan 12 now resistance
*PRICE: 122-13 @ 0530GMT
*SUP 1: 121-31 2018 Low Jan 25
*SUP 2: 121-22+ Monthly Low July 1 2011
*SUP 3: 120-25+ Low Apr 29 2011
*SUP 4: 119-24 Low Apr 21 2011
*COMMENTARY: Follow through has been lacking on the most recent 2018 and 6+ year
low with O/S daily studies looking to correct the key concern for bears. The
122-20 resistance remains key. Bulls need a close above this level to hint at a
correction back to 123-03+/123-20 where a channel top and 21-DMA are situated.
Bears remain focused on 120-25+/121-22+ while 122-20 caps but need a close below
121-31 to gain breathing room.
US 10-YR YIELD TECHS: Topside Rejection A Concern
*RES 4: 2.748 - High Apr 22 2014 
*RES 3: 2.692 - Monthly High July 3 2014 
*RES 2: 2.672 - 2018 High Jan 22 
*RES 1: 2.650 - Hourly support Jan 25 now resistance
*PRICE: 2.619 @ 2030GMT
*SUP 1: 2.609 - Low Jan 24 
*SUP 2: 2.585 - Low Jan 18 
*SUP 3: 2.571 - Hourly resistance Jan 17 now support 
*SUP 4: 2.531 - 21-DMA
*COMMENTARY: Hesitation ahead of the 2.692 resistance remains a concern for
bulls with momentum divergence noted and daily studies correcting from very O/B
levels seen weighing. Bears now need a close below 2.609 to ease bullish
pressure and 2.571 to hint at a correction back to 2.489-531 where the 21-DMA
(2.525) is noted. Above 2.692 to is needed to confirm focus on 2.763-821 where
the daily bull channel top (2.782) is situated.
JGB TECHS: (H18) Above 150.42 To Gain Breathing Room 
*RES 4: 150.56 - High Jan 15
*RES 3: 150.53 - 21-DMA
*RES 2: 150.48 - Alternating support/resistance
*RES 1: 150.42 - High Jan 24
*PRICE: 150.31 @ 2030GMT
*SUP 1: 150.25 - 2018 Low Jan 18 
*SUP 2: 150.19 - Low Oct 23 
*SUP 3: 150.08 - Monthly Low Oct 3 
*SUP 4: 150.06 - Low July 20
*COMMENTARY: The recovery from 2018 lows has remained capped ahead of the 21-DMA
with bulls needing a close above the 200-DMA to end bearish hopes and shift
initial focus to 150.72-84 where 55 & 100-DMAs are noted. A close above 150.84
is needed to target 151.19-21. Bears remain focused on the break of 150.19
needed to reconfirm focus on 150.06-08 and hint at a move targeting the 200-WMA
(149.19).
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
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