MNI Asian Morning FI Technical Analysis

15 May 2018

By Kyle Shortland

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

http://tinyurl.com/phluope

AUSSIE 3-YR TECHS: (M18) Remains Capped Ahead Of Key DMAs 

*RES 4: 97.894 - 200-DMA 

*RES 3: 97.865 - High Apr 10 

*RES 2: 97.822 - 55-DMA 

*RES 1: 97.820 - High May 4

*PRICE: 97.770 @ 2130GMT

*SUP 1: 97.770 - Lows May 9 & 10 

*SUP 2: 97.750 - Lows May 3 & 4 

*SUP 3: 97.730 - Repeated daily resistance now support 

*SUP 4: 97.675 - 2018 Low Apr 24

*COMMENTARY: The recovery from 2018 lows continues to hesitate ahead of the 55 &

100-DMAs. Bulls still need a close above 97.865 to shift focus to 97.894-955

where the 200-DMA is found. Layers of support 97.730-770 continue to be seen as

key with pressure back on this region. Bears now need a close below 97.750 to

confirm traction below the 21-DMA (97.760) and below 97.730 to reconfirm initial

focus on 2018 lows.

     AUSSIE 10-YR TECHS: (M18) Bears Need Close Below 97.1500 

*RES 4: 97.3127 - 200-WMA

*RES 3: 97.2751 - 200-DMA

*RES 2: 97.2600 - High Apr 18

*RES 1: 97.2269 - 100-DMA

*PRICE: 97.1700 @ 2130GMT

*SUP 1: 97.1500 - High Apr 24 now support

*SUP 2: 97.0873 - Weekly Bull channel base off 2008 Low

*SUP 3: 97.0800 - Low Feb 21

*SUP 4: 97.0450 - 2018 Low Feb 6

*COMMENTARY: The recovery from Apr lows has stalled ahead of the 200-DMA with

the 200-WMA lurking just above as daily studies correct from O/B levels. Bulls

now need a close above the 200-WMA to shift initial focus to 97.4000-4400.

Although the contract is capped ahead of the 200-DMA bears still need a close

below 97.1500 to ease pressure on key DMAs and to reconfirm initial focus on

2018 lows.

     US 10-YR FUTURE TECHS: (M18) 118-31 Support Key

*RES 4: 120-06+ High Apr 19

*RES 3: 120-04+ 55-DMA

*RES 2: 120-02+ Low Apr 18 now resistance

*RES 1: 119-18+ 21-DMA

*PRICE: 119-05 @ 2130GMT

*SUP 1: 118-31  2018 Low Apr 25

*SUP 2: 118-24  Low Apr 13 2011

*SUP 3: 117-29+ Monthly Low Apr 8 2011

*SUP 4: 117-07+ Weekly Bear channel base

*COMMENTARY: Follow through below 119-08 was lacking but bears take comfort in

the bounce remaining capped ahead of the 21-DMA. Bulls look for a close above

120-06+ to confirm breaks of 21 & 55-DMAs and shift initial focus back to

120-20+/24. Bears now look for a close below 118-31 to add weight to the case

for a test of the weekly bear channel base coming in around 117-07+ today. Daily

studies are well placed for a fresh leg lower.

     US 10-YR YIELD TECHS: 55-DMA Now Key Support

*RES 4: 3.073 - Low July 6 2011 now resistance 

*RES 3: 3.041 - 2014 High Jan 2 

*RES 2: 3.035 - 2018 High Apr 25 

*RES 1: 3.018 - Hourly support Apr 26 now resistance

*PRICE: 3.002 @ 2130GMT

*SUP 1: 2.949 - 21-DMA 

*SUP 2: 2.937 - Low May 7 

*SUP 3: 2.904 - Low Apr 20 

*SUP 4: 2.877 - 55-DMA

*COMMENTARY: Daily studies remain well placed for a fresh leg higher with focus

back on 3.041-073. Bulls continue to look for a close above 3.073 to confirm

traction above 3.000 and the 2018 high and target 3.219-232 where the weekly

bull channel top is noted. Bears now need a close below 2.937 to confirm a break

of the 21-DMA & ease bullish pressure. Overall below the 55-DMA (2.877) is

needed to shift initial focus back to 2.814.

     JGB TECHS: (M18) 200-DMA Support Key

*RES 4: 151.15 - 2018 High Mar 2

*RES 3: 151.06 - High Mar 12

*RES 2: 151.03 - High Apr 12

*RES 1: 150.95 - Low Apr 12 now resistance

*PRICE: 150.85 @ 2130GMT

*SUP 1: 150.73 - 100-DMA 

*SUP 2: 150.71 - 200-DMA 

*SUP 3: 150.52 - Alternating daily support/resistance 

*SUP 4: 150.39 - Monthly Low Apr 26

*COMMENTARY: Hesitation ahead of the 150.95-151.06 resistance region is less

than ideal for bulls with a close above 151.06 needed to shift initial focus to

151.15-21. Bears continue to look for a close below the 200-DMA to end bullish

hopes and shift initial focus back to 150.52. Overall below 150.52 is needed to

see bears targeting 2018 lows. Daily studies at modestly O/B levels and looking

to correct are less than ideal for bulls.

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

[TOPICS: MTABLE]