MNI Asian Morning FI Technical Analysis

8 June 2018

By Kyle Shortland

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

http://tinyurl.com/phluope

AUSSIE 3-YR TECHS: (M18) Bulls Need Close Above 97.770 To Gain Breathing Room 

*RES 4: 97.910 - High Mar 29 

*RES 3: 97.871 - 200-DMA 

*RES 2: 97.830 - Lows May 30 & 31 now resistance 

*RES 1: 97.770 - Low May 24 now resistance

*PRICE: 97.760 @ 2130GMT

*SUP 1: 97.720 - Low June 7 

*SUP 2: 97.700 - Monthly Low May 17 

*SUP 3: 97.675 - 2018 Low Apr 24 

*SUP 4: 97.605 - 2015 Low Dec 15 2015

*COMMENTARY: Bears take comfort in the closes below 97.770 that see focus return

to 97.675-700 where 2018 lows and the Bollinger base are situated. Daily studies

are well placed for a fresh leg lower before O/S is an issue. Bulls now need a

close above 97.770 to gain breathing room. A close above 97.830 is then needed

to shift initial focus back to 97.871-910 where the 200-DMA is noted.

     AUSSIE 10-YR TECHS: (M18) 97.2900 Resistance Key 

*RES 4: 97.4044 - 100-WMA

*RES 3: 97.3650 - High May 31

*RES 2: 97.2900 - Low June 1 now resistance

*RES 1: 97.2336 - 55-DMA

*PRICE: 97.1850 @ 2130GMT

*SUP 1: 97.1450 - Low June 7

*SUP 2: 97.1100 - 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: The break of 97.1500 has so far lacked follow through which is less

than ideal for bears. Daily momentum studies are back at neutral levels

increasing the risk of a correction higher. The 97.2900 resistance is key today.

Bulls need a close above to confirm breaks of DMAs and to shift focus back to

97.3650-4400. The 97.0450-1100 support region where the weekly LT bull channel

base and 2018 low are noted remains key.

     US 10-YR FUTURE TECHS: (U18) 120-00+ Resistance Key Today

*RES 4: 121-03 High May 30

*RES 3: 120-24 Hourly resistance May 30a

*RES 2: 120-16 Hourly resistance May 30

*RES 1: 120-00+ High June 7

*PRICE: 119-20+ @ 2130GMT

*SUP 1: 119-16 Hourly resistance June 6 now support

*SUP 2: 119-06+ 21-DMA

*SUP 3: 119-04 Low June 7

*SUP 4: 118-30 Low May 24

*COMMENTARY: The dip below 21-DMA was aggressively reversed although so far

bulls have failed to gain traction above the 100-DMA (119-28+). Initial support

is noted at 119-16 with bears needing a close below to retain immediate focus on

118-30/119-04. Below 118-30 remains needed to confirm a break of the 21-DMA and

shift initial focus back to 2018 lows. Bulls now need a close above 120-00+ to

add support to the case for a move back to 121-03/12+.

     US 10-YR YIELD TECHS: 2.884 & 3.014 Levels Now Key

*RES 4: 3.050 - Low May 22 

*RES 3: 3.014 - High May 24 

*RES 2: 2.994 - High June 7 

*RES 1: 2.967 - Hourly support June 7 now resistance

*PRICE: 2.927 @ 0430GMT

*SUP 1: 2.884 - Low June 7

*SUP 2: 2.860 - Low June 1 

*SUP 3: 2.821 - Hourly support May 30 

*SUP 4: 2.790 - Hourly support May 30a

*COMMENTARY: Failure to take out 3.014 resulted in a sell-off Thursday and dip

below the 55-DMA (2.911) easing bullish pressure. Bears now need a close below

2.884 lows from Thursday to confirm a break of the 55-DMA and to return focus to

2.717-759 where Mar & May lows are noted. Daily momentum studies are back at

neutral levels and ready for a fresh leg lower. Bulls need a close above 3.014

to confirm a break of the 21-DMA and target 2018 highs.

     JGB TECHS: (M18) 100-DMA Support Key

*RES 4: 151.15 - 2018 High Mar 2

*RES 3: 151.13 - Monthly High May 30

*RES 2: 151.02 - Hourly resistance May 30

*RES 1: 150.94 - Low May 31 now resistance

*PRICE: 150.86 @ 2130GMT

*SUP 1: 150.76 - 200-DMA 

*SUP 2: 150.75 - 100-DMA 

*SUP 3: 150.62 - Low May 16 

*SUP 4: 150.39 - Monthly Low Apr 26

*COMMENTARY: Failure to take out the 100-DMA support is a concern for bears. A

close below this level to shift initial focus to 150.62 and overall focus to

150.39. Daily momentum studies have worked off their O/B condition and are set

for a fresh leg higher. Bulls need a close above 151.02 to return initial focus

to 151.13-19 and above 2018 highs to shift focus to 151.51 2017 highs.

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

[TOPICS: MTABLE]