MNI Asian Morning FI Technical Analysis

25 May 2018

By Kyle Shortland

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

http://tinyurl.com/phluope

AUSSIE 3-YR TECHS: (M18) Layers Of Resistance 97.799-882 

*RES 4: 97.865 - High Apr 10 

*RES 3: 97.820 - Highs May 7 & 8 

*RES 2: 97.816 - Daily Bear channel top 

*RES 1: 97.799 - 55-DMA

*PRICE: 97.785 @ 2130GMT

*SUP 1: 97.771 - 21-DMA 

*SUP 2: 97.735 - Hourly support May 21 

*SUP 3: 97.700 - Low May 17 

*SUP 4: 97.675 - 2018 Low Apr 24

*COMMENTARY: Support emerging ahead of 2018 lows last week has provided the

impetus for closes above the 21-DMA & 97.770 with immediate focus now on layers

of resistance 97.799-882 where 55, 100 & 200-DMAs and a bear channel top are

noted. The 21-DMA is now initial support but bears look for a close below 97.735

to return initial focus to 97.675-700 where 2018 lows are noted.

     AUSSIE 10-YR TECHS: (M18) 97.1500 Support Now Key 

*RES 4: 97.3182 - 200-WMA

*RES 3: 97.2657 - 200-DMA

*RES 2: 97.2312 - 55-DMA

*RES 1: 97.2126 - 100-DMA

*PRICE: 97.1850 @ 2130GMT

*SUP 1: 97.1500 - Alternating daily support/resistance

*SUP 2: 97.1024 - LT Weekly Bull channel base off 2008 Low

*SUP 3: 97.1000 - Hourly resistance May 17 now support

*SUP 4: 97.0677 - Bollinger band base

*COMMENTARY: Bears have so far failed to gain traction below the LT weekly bull

channel base (97.1024). Bulls take comfort in closes above the 21-DMA that sees

focus now back on 97.2126-3182 where key DMAs and WMAs are situated. Daily

studies are well placed for gains with correcting O/S studies adding support to

the bullish case. Bears now need a close below 97.1500 to ease renewed bullish

pressure.

     US 10-YR FUTURE TECHS: (M18) Focus On 119-30+/120-06+

*RES 4: 120-06+ High Apr 19

*RES 3: 119-31+ High Apr 4

*RES 2: 119-30+ 55-DMA

*RES 1: 119-24+ High May 7

*PRICE: 119-15+ @ 2130GMT

*SUP 1: 119-07  Alternating daily support/resistance

*SUP 2: 118-31  Alternating daily support/resistance

*SUP 3: 118-19+ High May17 now support

*SUP 4: 118-10+ 2018 Low May 17

*COMMENTARY: The recovery from 2018 lows has resulted in closes above the 21-DMA

(119-08+) and 119-07 level with focus shifting to 119-30+/120-06+ where the

55-DMA is located. Daily studies are well placed for further gains. Bears now

look for a close below 119-07 to ease bullish pressure and below 118-31 to shift

focus back to 2018 lows and then the weekly bear channel base coming in around

116-30+ today.

     US 10-YR YIELD TECHS: Gains Traction Below 21-DMA

*RES 4: 3.084 - High May 21 

*RES 3: 3.050 - Low May 22 

*RES 2: 3.030 - Hourly resistance May 23 

*RES 1: 3.002 - 21-DMA

*PRICE: 2.977 @ 2130GMT

*SUP 1: 2.937 - Low May 7 

*SUP 2: 2.904 - Low Apr 20, 55-DMA 

*SUP 3: 2.876 - High Apr 18 now support 

*SUP 4: 2.826 - 100-DMA

*COMMENTARY: The yield remains offered having sold-off last Friday from the

daily bull channel top with the close below the 21-DMA confirming a shift in

focus to 2.876-937 where the 55-DMA is located. Correcting O/B studies add

weight to the bearish case. Bulls need a close above 3.050 to gain breathing

room and above 3.128 2018 highs to reconfirm the bullish bias and focus on

3.184-3.254 where channel tops and July 2011 monthly high are situated.

     JGB TECHS: (M18) Immediate Focus On 150.95

*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, Bollinger top

*PRICE: 150.86 @ 2130GMT

*SUP 1: 150.76 - 21-DMA 

*SUP 2: 150.72 - 100-DMA 

*SUP 3: 150.62 - Low May 16 

*SUP 4: 150.39 - Monthly Low Apr 26

*COMMENTARY: The closes above the 55-DMA add support to the case for tests of

the 150.95 resistance. Bulls continue to look for a close above this level to

confirm initial focus on 151.03-15 where 2018 highs are located. Daily studies

are well placed for a fresh leg higher. The 100-DMA is now key support. Bears

need a close below this level to confirm breaks of 21, 100 & 200-DMAs with

immediate focus returning to 150.62.

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

[TOPICS: MTABLE]