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MNI Asian Morning FI Technical Analysis

9 March 2018
By Kyle Shortland
Click below for today's MNI FI Technical Analysis Report -
http://tinyurl.com/phluope
AUSSIE 3-YR TECHS: (H18) Bears Need Close Below 55-DMA 
*RES 4: 98.015 - Alternating daily support resistance 
*RES 3: 97.986 - 200-WMA 
*RES 2: 97.964 - 200-DMA 
*RES 1: 97.909 - 100-DMA
*PRICE: 97.900 @ 2030GMT
*SUP 1: 97.865 - Low Mar 7 
*SUP 2: 97.833 - 55-DMA 
*SUP 3: 97.790 - Low Feb 8 
*SUP 4: 97.755 - Low Feb 5
*COMMENTARY: Recent topside hesitation ahead of the 200-DMA and 200-WMA has
taken its toll and currently weigh on the contract. Bears continue to look for a
close below the 55-DMA to hint at a move back to 2018 lows with a close below
97.790 to confirm. Layers of resistance accumulating are now weighing with bulls
needing a close above the 100-DMA to gain breathing room and above 98.015 to
shift initial focus to 98.110-132 where the 100-WMA and Nov highs are noted.
     AUSSIE 10-YR TECHS: (H18) Bears Need Close Below 21-DMA 
*RES 4: 97.3168 - 55-WMA
*RES 3: 97.3158 - 200-DMA
*RES 2: 97.3050 - High Mar 2
*RES 1: 97.2450 - Hourly support Mar 1 now resistance
*PRICE: 97.2250 @ 2030GMT
*SUP 1: 97.1769 - 21-DMA
*SUP 2: 97.1750 - Hourly resistance Feb 23 now support
*SUP 3: 97.1250 - Low Feb 22
*SUP 4: 97.0800 - Low Feb 21
*COMMENTARY: Topside hesitation around the 100-DMA (97.2849) and ahead of the
200-DMA took its toll with immediate pressure back on the 21-DMA. Bears still
need a close below the 21-DMA to shift focus back to 97.0167-0450 where 2018
lows and the LT bull channel base off 2008 lows are noted. Initial resistance
remains at 97.2450 with bulls needing a close above to return pressure to the
200-DMA & 55-WMA.
     US 10-YR FUTURE TECHS: (M18) 121-01+ Resistance Remains Key
*RES 4: 121-17+ 55-DMA
*RES 3: 121-01+ High Feb 7
*RES 2: 120-17+ Daily Bear channel top (off Jan 2 high)
*RES 1: 120-14+ Hourly resistance Mar 7
*PRICE: 120-07 @ 2030GMT
*SUP 1: 119-21  Repeated Daily lows Feb
*SUP 2: 119-14  Monthly Low Feb 15
*SUP 3: 118-24  Low Apr 13 2011
*SUP 4: 118-12+ Daily Bear channel base
*COMMENTARY: Bulls failed to capitalise on gains with the contract remaining
capped ahead of the bear channel top. Bulls still need a close above 121-01+ to
shift initial focus to 121-17+/122-02 where the 55-DMA is located. The break of
120-00 Monday added to bearish confidence with a close below 119-21 remaining
needed to confirm focus on 118-15+/24 where the bear channel base that has
defined 2018 so far is noted.
     US 10-YR YIELD TECHS: Above 2.957 To Target 3.041
*RES 4: 2.957 - 2018 High Feb 21 
*RES 3: 2.935 - Bollinger band top 
*RES 2: 2.925 - High Feb 27 
*RES 1: 2.906 - High Mar 6
*PRICE: 2.859 @ 2030GMT
*SUP 1: 2.842 - Low Mar 7 
*SUP 2: 2.810 - Low Mar 5 
*SUP 3: 2.793 - Low Mar 2 
*SUP 4: 2.786 - Low Feb 9
*COMMENTARY: The lack of topside follow through on 2018 & 4yr highs was less
than ideal for bulls who were focused on 3.041 2014. Bears have so far failed to
capitalise on last week's sell-off with the yield bouncing from ahead of key
supports. Bears look for a close below 2.758 to end bullish hopes and shift
focus back to 2.609-696 where the 55-DMA is noted. Bulls need a close above
2.957 to reconfirm focus on 3.041.
     JGB TECHS: (H18) Above 151.19 To Target 2017 High 
*RES 4: 151.51 - 2017 High Sept 8
*RES 3: 151.19 - Monthly High Nov 22
*RES 2: 151.18 - Bollinger band top
*RES 1: 151.15 - 2018 High Mar 2
*PRICE: 151.00 @ 2030GMT
*SUP 1: 150.89 - Hourly resistance Mar 2 now support 
*SUP 2: 150.73 - Hourly support Mar 2 
*SUP 3: 150.55 - Low Mar 2 
*SUP 4: 150.51 - Low Feb 15
*COMMENTARY: Last week's volatility has resulted in pressure returning to the
151.18-19 region where the Bollinger band top is situated. Bulls continue to
look for a close above 151.19 to initially target 151.51 2017 highs. The
Bollinger band top is the key concern for bulls with potential to limit follow
through. Bears still need a close below 150.89 to ease bullish pressure and
below 150.47 to target 2018 lows.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]

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