MNI Asian Morning FI Technical Analysis

19 June 2018

By Kyle Shortland

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

http://tinyurl.com/phluope

AUSSIE 3-YR TECHS: (U18) Bulls Need Close Above 200-DMA 

*RES 4: 97.935 - High May 15 

*RES 3: 97.916 - 55-WMA 

*RES 2: 97.910 - High Mar 29 

*RES 1: 97.875 - High June 18

*PRICE: 97.850 @ 2130GMT

*SUP 1: 97.835 - High June 14 now support 

*SUP 2: 97.795 - High June 13 now support 

*SUP 3: 97.755 - Low June 11 

*SUP 4: 97.720 - Low June 7

*COMMENTARY: Pressure has returned to the 200-DMA (87.865) although follow

through above is lacking with bulls needing a close above to shift focus to

97.910-955 where the 55-WMA is located. Daily studies have room to move before

O/B becomes an issue although the Bollinger top (97.888) is a concern. Initial

support is noted at 97.835 with bears needing a close below to gain breathing

room and below 97.795 to shift initial focus back to 97.755.

     AUSSIE 10-YR TECHS: (U18) Bulls Focused On 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: 97.3150 @ 2130GMT

*SUP 1: 97.2900 - Low June 18

*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 continue to look for a close below

97.2550 to shift focus back to 97.1231-1725 where the long-term bull channel

base is located.

     US 10-YR FUTURE TECHS: (U18) 118-29/119-09 Support Remains Key

*RES 4: 120-24  Hourly resistance May 30a

*RES 3: 120-16  Hourly resistance May 30

*RES 2: 120-00+ High June 7

*RES 1: 119-27  High June 15

*PRICE: 119-20+ @ 2130GMT

*SUP 1: 119-14+ Low June 15

*SUP 2: 119-09  Hourly resistance June 13 now support

*SUP 3: 118-29  Low June 13

*SUP 4: 118-19  High May 22 now support

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

support with the contract lacking downside follow through. Bulls gain confidence

as the contract gains traction above the 55-DMA (119-16+) with 120-00+ key.

Bulls need a close above 120-00+ to add support to the case for a move back to

121-03/12+. Bears now need a close below 119-09 to gain breathing room and below

118-29+ to shift initial focus back to 2018 lows.

     US 10-YR YIELD TECHS: 2.884 Support Remains Key

*RES 4: 3.014 - High May 24 

*RES 3: 2.985 - Hourly resistance June 13 

*RES 2: 2.965 - Hourly support June 13 now resistance 

*RES 1: 2.937 - High June 15

*PRICE: 2.915 @ 2130GMT

*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: The 3.014 resistance reconfirmed significance with the yield capped

ahead of this level last week. The close below 2.944 confirmed an easing of

bullish pressure and returned focus to 2.884. Below this level confirms a break

of the 55-DMA (2.927) 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

(2.944) and target 2018 highs.

     JGB TECHS: (U18) 150.71 Support Key Today

*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: 150.85 - 21-DMA

*PRICE: 150.75 @ 2130GMT

*SUP 1: 150.71 - Low June 15 

*SUP 2: 150.60 - Low June 14 

*SUP 3: 150.58 - Rising daily TL Off 2017 low 

*SUP 4: 150.53 - Low Apr 27

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

the recovery resulting in pops above 100 & 200-DMAs. The 150.88-94 resistance

region remains key today. Bulls need a close above this region to return focus

to the 151.02-19 resistance region. Daily studies remain well placed for gains.

Bears now need a close below 150.71 to gain breathing room and reconfirm initial

focus on 150.53-60.

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

[TOPICS: MTABLE]