MNI Asian Morning FI Technical Analysis

15 June 2018

By Kyle Shortland

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

http://tinyurl.com/phluope

AUSSIE 3-YR TECHS: (M18) Lacks Follow Through Above 97.830 

*RES 4: 97.924 - 55-WMA 

*RES 3: 97.910 - High Mar 29 

*RES 2: 97.867 - 200-DMA 

*RES 1: 97.835 - High June 14

*PRICE: 97.815 @ 2130GMT

*SUP 1: 97.795 - High June 13 now support 

*SUP 2: 97.755 - Low June 11 

*SUP 3: 97.720 - Low June 7 

*SUP 4: 97.700 - Monthly Low May 17

*COMMENTARY: The marginal break of the 97.830 resistance lacked follow through

with the contract looking gently offered. Initial support is now noted at 97.795

with bears needing a close below to gain breathing room and below 97.755 to

return pressure to the 97.675-720 region where 2018 & monthly lows are situated.

Bulls now need a close above 97.835 to shift initial focus back to 97.867-923

where the 200-DMA & 55-WMA are noted.

     AUSSIE 10-YR TECHS: (M18) Focus Returns To 97.3650-4400 

*RES 4: 97.4100 - Monthly High May 30

*RES 3: 97.3977 - 100-WMA

*RES 2: 97.3693 - Bollinger band top

*RES 1: 97.3650 - High May 31

*PRICE: 97.3100 @ 2130GMT

*SUP 1: 97.2900 - Alternating daily support/resistance

*SUP 2: 97.2550 - Hourly support June 14

*SUP 3: 97.1725 - Low June 12

*SUP 4: 97.1450 - Low June 7

*COMMENTARY: The break of 97.1500 lacked follow through with the recovery

resulting in a close above the 97.2900 level and focus returning to 97.3650-4400

where the 100-WMA and monthly highs are situated. Daily studies are well placed

for gains before O/B is an issue. Bears now need a close below 97.2900 to gain

breathing room and below 97.2550 to shift focus back to 97.1450-1725.

     US 10-YR FUTURE TECHS: (U18) Bulls Need Close Above 119-18+

*RES 4: 120-16  Hourly resistance May 30

*RES 3: 120-00+ High June 7

*RES 2: 119-23  Hourly resistance June 8

*RES 1: 119-18+ High June 14

*PRICE: 119-14 @ 2130GMT

*SUP 1: 119-09  Hourly resistance June 13 now support

*SUP 2: 118-29  Low June 13

*SUP 3: 118-19  High May 22 now support

*SUP 4: 118-09  Low May 21

*COMMENTARY: Bears failed to capitalise on the marginal break of the key 118-30

support with the contract lacking downside follow through. The bounce sees the

contract hesitating around the 55-DMA (119-17+). Bulls look for a close above

119-18+ to gain breathing room and above 120-00+ to confirm traction above the

100-DMA (119-24+) and add support to the case for a move back to 121-03/12+.

Bears now need a close below 118-29+ to shift initial focus back to 2018 lows.

     US 10-YR YIELD TECHS: Focus Returns To 2.884 Support

*RES 4: 3.050 - Low May 22 

*RES 3: 3.014 - High May 24 

*RES 2: 2.985 - Hourly resistance June 13 

*RES 1: 2.965 - Hourly support June 13 now resistance

*PRICE: 2.957 @ 2130GMT

*SUP 2: 2.921 - Hourly support June 8, 55-DMA 

*SUP 3: 2.884 - Low June 7 

*SUP 4: 2.860 - Low June 1 

*SUP 4: 2.821 - Hourly support May 30

*COMMENTARY: The 3.014 resistance reconfirmed significance with the yield capped

ahead of this level and remaining offered. The close below 2.944 confirms an

easing of bullish pressure and returns focus to 2.884. Below this level confirms

a break of the 55-DMA (2.921) and sees bears targeting 2.717-759 where Mar & May

lows are noted. Bulls still need a close above 3.014 to confirm a break of the

21-DMA (2.961) and target 2018 highs.

     JGB TECHS: (U18) Bulls Need Close Above 100-DMA

*RES 4: 151.02 - Hourly resistance May 30

*RES 3: 150.94 - Low May 31 now resistance

*RES 2: 150.88 - High June 8

*RES 1: 150.77 - 100-DMA

*PRICE: 150.74 @ 2130GMT

*SUP 1: 150.60 - Low June 14 

*SUP 2: 150.57 - Rising daily TL Off 2017 low 

*SUP 3: 150.53 - Low Apr 27 

*SUP 4: 150.39 - Monthly Low Apr 26

*COMMENTARY: Bears have so far failed to capitalise on Wednesday's sell-off with

the recovery resulting in pops above 100 & 200-DMAs. Bulls now need a close

above the 100-DMA to ease bearish pressure and return focus to layers of

resistance 150.88-151.02. Daily studies correcting from O/S are well placed for

a fresh leg higher. Bears remain focused on 150.53-60 while the 100-DMA caps.

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

[TOPICS: MTABLE]