MNI Asian Morning FI Technical Analysis

27 February 2018

By Kyle Shortland

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

http://tinyurl.com/phluope

AUSSIE 3-YR TECHS: (H18) 97.890 Support Now Key 

*RES 4: 98.015 - Alternating daily support resistance 

*RES 3: 97.982 - 200-WMA 

*RES 2: 97.979 - 200-DMA 

*RES 1: 97.955 - High Dec 15

*PRICE: 97.930 @ 2030GMT

*SUP 1: 97.915 - Hourly support Feb 23 

*SUP 2: 97.905 - 100-DMA 

*SUP 3: 97.890 - High Feb 9 now support 

*SUP 4: 97.841 - 55-DMA

*COMMENTARY: Hesitation ahead of the 97.955-98.015 resistance region to start

the new week is less than ideal for bulls with key MAs and the daily bear

channel top off June highs are situated. Layers of support have accumulated but

bears look for a close below 97.890 to ease bullish pressure and below 97.790 to

return initial focus to tests of 2018 lows (97.690). The Bollinger band top

(97.933) is the key concern for bulls and currently limits follow through.

     AUSSIE 10-YR TECHS: (H18) Daily Bear Channel Top Capping 

*RES 4: 97.3274 - 200-DMA

*RES 3: 97.2800 - High Jan 11, 100-DMA

*RES 2: 97.2658 - 200-WMA

*RES 1: 97.2634 - Daily Bear channel top (off Dec 4 high)

*PRICE: 97.2400 @ 2030GMT

*SUP 1: 97.2250 - Hourly resistance Feb 26 now support

*SUP 2: 97.2000 - Hourly support Feb 26

*SUP 3: 97.1750 - Hourly resistance Feb 23 now support

*SUP 4: 97.1250 - Low Feb 22

*COMMENTARY: The recovery from dips back towards the LT bull channel base

(97.0037) off 2008 lows looks to be in trouble with H18 remaining capped at the

daily bear channel top with key MAs noted above. Bears now look for a close

below 97.2250 to gain breathing room and below 97.1750 to shift focus back to

97.0037-0450 where 2018 lows and the LT bull channel base are noted. Bulls now

look for a close above the 200-DMA to target 97.5200.

     US 10-YR FUTURE TECHS: (H18) 121-08/23+ Resistance Now Key

*RES 4: 122-17+ 55-DMA

*RES 3: 121-23+ Daily Bear channel top (off Dec 29 High)

*RES 2: 121-08  Hourly support Feb 9 now resistance

*RES 1: 120-31+ 21-DMA

*PRICE: 120-27 @ 2030GMT

*SUP 1: 120-20+ Hourly support Feb 23

*SUP 2: 120-15+ High Feb 22 now support

*SUP 3: 120-01  2018 Low Feb 15

*SUP 4: 119-24  Low Apr 21 2011

*COMMENTARY: The lack of follow through Thursday left a double daily bottom

120-01/02 with the recovery capped around the 21-DMA. Bulls now need a close

above 121-08 to gain breathing room and above the bear channel top to hint at a

correction to 122-17+/20. Layers of support are accumulating with bears now

needing a close below 120-15+ to retain focus on 119-20+/24 where the bear

channel base is situated.

     US 10-YR YIELD TECHS: Supported Around 21-DMA

*RES 4: 3.041 - 2014 High Jan 2 

*RES 3: 2.957 - 2018 High Feb 21 

*RES 2: 2.904 - Low Feb 22 now resistance 

*RES 1: 2.877 - Hourly resistance Feb 23

*PRICE: 2.862 @ 2030GMT

*SUP 1: 2.827 - Hourly breakout level Feb 14 

*SUP 2: 2.808 - Low Feb 14 

*SUP 3: 2.786 - Low Feb 9 

*SUP 4: 2.758 - Low Feb 7

*COMMENTARY: The lack of topside follow through on 2018 & 4yr highs is less than

ideal for bulls who are focused on the 3.041 2014 high. A close above 3.041 is

needed to initially focus on 3.073-223 where July 2011 monthly highs are

situated. Bulls take comfort in Monday's bounce with above 2.904 needed to

reconfirm focus on 3.041. Bears need a close below 2.758 to target 2.609-648

with the 55-DMA noted at 2.614.

     JGB TECHS: (H18) Above 151.01 To Initially Target 151.19-51 

*RES 4: 151.19 - Monthly High Nov 22

*RES 3: 151.06 - Bollinger band top

*RES 2: 151.01 - High Dec 18

*RES 1: 151.00 - 100-WMA

*PRICE: 150.97 @ 2030GMT

*SUP 1: 150.96 - Hourly support Feb 26 

*SUP 2: 150.85 - High Feb 21 now support 

*SUP 3: 150.76 - Low Feb 22 

*SUP 4: 150.68 - Alternating daily support/resistance

*COMMENTARY: Fresh 2018 and 2mth highs continue with bulls focused on 151.01. A

close above 151.01 is needed to shift focus to 151.19-51. Daily studies at O/B

levels is the key concern for bulls. In saying that, bears now need a close

below 150.96 to ease pressure on resistance layers and below 150.85 to shift

focus back to 150.51-68 where key DMAs are clustered. Below 150.51 is now needed

to return focus to 2018 lows (150.09).

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

[TOPICS: MTABLE]