MNI Asian Morning FI Technical Analysis

1 June 2018

By Kyle Shortland

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

http://tinyurl.com/phluope

AUSSIE 3-YR TECHS: (M18) Topside Follow Through Lacking 

*RES 4: 97.935 - High Mar 15 

*RES 3: 97.930 - Weekly Bear channel top off 2016 high 

*RES 2: 97.910 - High Mar 29 

*RES 1: 97.878 - 200-DMA

*PRICE: 97.840 @ 2130GMT

*SUP 1: 97.813 - 100-DMA 

*SUP 2: 97.797 - 55-DMA 

*SUP 3: 97.792 - 21-DMA 

*SUP 4: 97.770 - Low May 24

*COMMENTARY: Rejection ahead of the weekly bear channel top off 2016 highs is

less than ideal with daily studies correcting from O/B. The closes below the

200-DMA are a concern with focus having returned to layers of support 97.770-813

where key DMAs are noted. Bears now need a close below 99.770 to return focus to

2018 lows. Bulls need a close above the 200-DMA to gain breathing room and above

97.955 to shift focus to 98.110 Dec highs.

     AUSSIE 10-YR TECHS: (M18) 100-WMA Capping 

*RES 4: 97.4143 - 100-WMA

*RES 3: 97.4100 - High May 30

*RES 2: 97.3800 - Hourly resistance May 30a

*RES 1: 97.3550 - Hourly resistance May 30

*PRICE: 97.3150 @ 2130GMT

*SUP 1: 97.2900 - Low May 30

*SUP 2: 97.2643 - 200-DMA

*SUP 3: 97.2392 - 55-DMA

*SUP 4: 97.2116 - 100-DMA

*COMMENTARY: The rejection around the 100-WMA has left the contract looking

offered and returned focus to 97.1500-2643 where key DMAs are located. Bears

need a close below 97.1500 to confirm breaks of DMAs and to shift immediate

focus back to 97.0450-1046 where the weekly LT bull channel base and 2018 low

are noted. Bulls now need a close above the 100-WMA to target 97.5200 Dec highs

with above 97.4400 to add support.

     US 10-YR FUTURE TECHS: (U18) Bears Need Close Below 55-DMA

*RES 4: 121-12  Monthly High Apr (Cont)

*RES 3: 121-03  High May 30

*RES 2: 120-24  Hourly resistance May 30a

*RES 1: 120-16  Hourly resistance May 30

*PRICE: 120-05+ @ 2130GMT

*SUP 1: 119-29  Hourly support May 29

*SUP 2: 119-21+ 55-DMA

*SUP 3: 119-11  Low May 28

*SUP 4: 119-03+ 21-DMA

*COMMENTARY: The lack of follow through on fresh 3mth highs is less than ideal

for bulls given O/B daily studies. The 55-DMA remains key support with bears

needing to hint at a move back to 2018 lows with below 118-30 to confirm a break

of the 21-DMA and add weight to the case. Bulls now need a close above 121-12 to

shift immediate focus to 122-02 and overall focus to 123-23+/124-05+ where the

55-WMA is noted.

     US 10-YR YIELD TECHS: 2.922 Resistance Key Today

*RES 4: 2.980 - 21-DMA 

*RES 3: 2.955 - Low May 24 now resistance 

*RES 2: 2.922 - Low May 25 now resistance 

*RES 1: 2.903 - 55-DMA

*PRICE: 2.860 @ 2130GMT

*SUP 1: 2.821 - Hourly support May 30 

*SUP 2: 2.790 - Hourly support May 30a 

*SUP 3: 2.759 - Low May 29 

*SUP 4: 2.717 - Monthly Low Apr 2

*COMMENTARY: The break of the 21-WMA (2.845) & the bull channel base (2.867) off

2017 lows has lacked follow through with the closes above the 100-DMA (2.842)

buying bulls breathing room. The 2.922 resistance is key. Bulls need a close

above this level to hint at a move back to 2018 highs with above 3.014 needed to

add further support. While 2.922 caps bears remain focused on Apr lows but need

a close below 2.821 to gain breathing room.

     JGB TECHS: (M18) Bears Need Close Below 150.90

*RES 4: 151.19 - Monthly High Nov 22

*RES 3: 151.15 - 2018 High Mar 2

*RES 2: 151.13 - Monthly High May 30

*RES 1: 151.02 - Hourly resistance May 30

*PRICE: 150.99 @ 2130GMT

*SUP 1: 150.90 - Hourly support May 28 

*SUP 2: 150.83 - 55-DMA 

*SUP 3: 150.75 - 200-DMA 

*SUP 4: 150.73 - 100-DMA

*COMMENTARY: The 151.15-19 resistance confirmed significance once again with the

contract rejected ahead of this level and looking a little offered. Bears now

need a close below 150.90 to return focus to 150.73-83 where key DMAs are

clustered. Correcting modestly O/B studies are adding weight to the case for a

correction. Bulls now need a close above 151.02 to return pressure to 151.13-19.

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

[TOPICS: MTABLE]