MNI Asian Morning FI Technical Analysis

28 May 2018

By Kyle Shortland

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

http://tinyurl.com/phluope

AUSSIE 3-YR TECHS: (M18) Focus Shifts To 97.865-882 

*RES 4: 97.882 - Bear channel top off 2016 high 

*RES 3: 97.881 - 200-DMA 

*RES 2: 97.865 - High Apr 10 

*RES 1: 97.834 - Bollinger band top

*PRICE: 97.830 @ 2130GMT

*SUP 1: 97.814 -100-DMA 

*SUP 2: 97.798 - 55-DMA 

*SUP 3: 97.776 - 21-DMA 

*SUP 4: 97.735 - Hourly support May 21

*COMMENTARY: Bulls dominated last week with close above the 55 & 100-DMA Friday

confirming focus on 97.865-882 where the 200-DMA and bear channel top off 2016

highs are found. Daily studies have room to move but the Bollinger top is the

key concern for bulls. Bears now need a close below the 55-DMA to ease bullish

pressure and below the 21-DMA to shift focus back to 2018 lows.

     AUSSIE 10-YR TECHS: (M18) 200-WMA Resistance Key This Week 

*RES 4: 97.3600 - High Apr 9

*RES 3: 97.3182 - 200-WMA

*RES 2: 97.2856 - Bollinger band top

*RES 1: 97.2651 - 200-DMA

*PRICE: 97.2500 @ 2130GMT

*SUP 1: 97.2321 - 55-DMA

*SUP 2: 97.1500 - Alternating daily support/resistance

*SUP 3: 97.1024 - LT Weekly Bull channel base off 2008 Low

*SUP 4: 97.1000 - Hourly resistance May 17 now support

*COMMENTARY: Bears failed to gain traction below the LT weekly bull channel base

(97.1046) last week with the contract now pressuring key resistance layers.

Bulls continue to look for a close above the 200-WMA to end bearish hopes and

shift focus to 97.4000-4400 where 2018 highs are located. Bears now need a close

below the 100-DMA to gain breathing room and below 97.1500 to return pressure to

2018 lows.

     US 10-YR FUTURE TECHS: (M18) Flirting With 55-DMA

*RES 4: 120-21+ Daily Bear channel top off Feb high

*RES 3: 120-15+ 100-DMA

*RES 2: 120-06+ High Apr 19

*RES 1: 120-00+ High May 25, Bollinger band top

*PRICE: 119-27+ @ 2130GMT

*SUP 1: 119-22+ High May 24 now support

*SUP 2: 119-09  21-DMA

*SUP 3: 118-31  Alternating daily support/resistance

*SUP 4: 118-19+ High May17 now support

*COMMENTARY: Gains defined last week with a pop above the 55-DMA (119-30+)

Friday. Daily studies remain well placed before O/B is an issue. The 120-06+

resistance is key this week. Bulls need a close above to confirm a break of the

55-DMA and initially pressure 120-15+/21+ where the bear channel top and 100-DMA

are found. The 21-DMA is key support this week. Bears need a close below to ease

bullish pressure and below 118-31 to shift focus back to 2018 lows.

     US 10-YR YIELD TECHS: 3.030-050 Resistance Key This Week

*RES 4: 3.050 - Low May 22 

*RES 3: 3.030 - Hourly resistance May 23 

*RES 2: 2.991 - 21-DMA 

*RES 1: 2.955 - Low May 24 now resistance

*PRICE: 2.935 @ 2130GMT

*SUP 1: 2.906 - 55-DMA 

*SUP 2: 2.904 - Low Apr 20 

*SUP 3: 2.876 - High Apr 18 now support 

*SUP 4: 2.831 - 100-DMA

*COMMENTARY: Bears take comfort in closes below the 21-DMA confirming a shift in

focus to 2.876-906 where the 55-DMA is located. Correcting O/B studies added

weight to the bearish case last week. Bulls need a close above 3.030 to gain

breathing room and above 3.050 to shift immediate focus back to 3.084-155 where

2018 highs and the bull channel top are situated. Bears look for a close below

2.876 to target 2.717 Apr lows.

     JGB TECHS: (M18) Bears Now Need Close Below 150.93

*RES 4: 151.19 - Monthly High Nov 22

*RES 3: 151.15 - 2018 High Mar 2

*RES 2: 151.06 - High Mar 12

*RES 1: 151.03 - High Apr 12

*PRICE: 150.99 @ 2130GMT

*SUP 1: 150.93 - High May 25 now support 

*SUP 2: 150.78 - 21-DMA 

*SUP 3: 150.72 - 100-DMA 

*SUP 4: 150.62 - Low May 16

*COMMENTARY: The closes above the 55-DMA provided the impetus for a close above

150.95 Friday and focus now on 115-03-19 where 2018 and Nov highs are located.

The Bollinger top (150.99) is the key concern for bulls and currently caps.

Bears now need a close below 150.93 to gain breathing room and target a

correction back to 150.72-78 where 21, 100 & 200-DMAs are noted.

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

[TOPICS: MTABLE]