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MNI Asian Morning FI Technical Analysis

12 July 2018
By Kyle Shortland
Click below for today's MNI FI Technical Analysis Report -
http://tinyurl.com/phluope
AUSSIE 3-YR TECHS: (U18) 97.965 Resistance Remains Key 
*RES 4: 98.015 - Alternating daily support/resistance 
*RES 3: 97.970 - Bollinger band top 
*RES 2: 97.965 - 2018 High July 2 
*RES 1: 97.950 - High July 4
*PRICE: 97.940 @ 2130GMT
*SUP 1: 97.891 - Low June 29 
*SUP 2: 97.867 - 200-DMA 
*SUP 3: 97.835 - High June 14 now support 
*SUP 4: 97.829 - 55-DMA
*COMMENTARY: The lack of topside follow through on fresh 2018 & 8mth highs was a
concern for bulls with daily momentum divergence noted, O/B studies in general
and the Bollinger top lurking just above. Bears now look for a close below
97.891 to confirm immediate focus on 97.829-867 where 55, 100 & 200-DMAs are
noted. Bulls now need a close above 97.965 to return focus to 98.024-034 where
100 & 200-WMAs are noted.
     AUSSIE 10-YR TECHS: (U18) Bulls Need Close Above 97.4400 
*RES 4: 97.4400 - 2018 High Apr 3
*RES 3: 97.4304 - Weekly Bollinger band top
*RES 2: 97.4200 - High July 2
*RES 1: 97.4000 - High July 9
*PRICE: 97.3850 @ 2130GMT
*SUP 1: 97.3350 - Low June 26 & 27
*SUP 2: 97.2900 - Low June 18
*SUP 3: 97.2683 - 200-DMA
*SUP 4: 97.2587 - 100-DMA
*COMMENTARY: Hesitation ahead of 2018 highs is a concern for bulls given daily
studies correcting from O/B, daily momentum divergence and Bollinger tops
lingering above. Bulls need a close above 97.4400 to confirm a break of the
100-WMA (97.3686) and initially target 97.5000-5200. Bears look for a close
below 97.3350 to ease bullish pressure and below the 100-DMA (97.2587) to shift
focus back to 97.1480-1725.
     US 10-YR FUTURE TECHS: (U18) 119-26+ & 120-20 Levels Key
*RES 4: 120-24  Hourly resistance May 30a
*RES 3: 120-20  High July 6
*RES 2: 120-18+ Bollinger band top
*RES 1: 120-13  Hourly resistance June 12
*PRICE: 120-05+ @ 2130GMT
*SUP 1: 119-30  Low July 3
*SUP 2: 119-26+ Low June 26
*SUP 3: 119-22+ 100-DMA
*SUP 4: 119-15+ 55-DMA
*COMMENTARY: Topside follow through has been lacking so far this week and
weighing on the contract. Layers of support 119-13+/119-26+ are seen as key.
Bears need a close below 119-26+ to confirm a break of the 21-DMA (119-29+) and
below the 100-DMA to pressure 119-13+/15+ where the 55-DMA is found. Bulls
continue to look for a close above 120-13 to gain breathing room and above
120-20 to confirm focus on the key 121-03/12 region.
     US 10-YR YIELD TECHS: 2.884-2.950 Resistance Region Key
*RES 4: 2.935 - Hourly resistance June 21 
*RES 3: 2.900 - High June 26 
*RES 2: 2.884 - High July 3 
*RES 1: 2.875 - High July 10
*PRICE: 2.840 @ 2130GMT
*SUP 1: 2.825 - Hourly support July 11 
*SUP 2: 2.807 - Low July 6 
*SUP 3: 2.790 - Hourly support May 30a, Bollinger band base 
*SUP 4: 2.759 - Low May 29
*COMMENTARY: Overall bearish focus remains on 2.717-759 where Apr & May lows are
noted but look for a close below 2.807 to add weight to their case. The
Bollinger base and modestly O/S studies remain key concern for bears and limit
follow through. Bulls continue to look for a close above 2.884 to gain breathing
room and above 2.950 to confirm breaks of 21, 55 & 100-DMAs and pressure the key
3.014-050 resistance region.
     JGB TECHS: (U18) Bears Need Close Below 150.89
*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: 150.92 @ 2130GMT
*SUP 1: 150.89 - High June 25 now support 
*SUP 2: 150.80 - Low June 29 
*SUP 3: 150.71 - Low June 15 
*SUP 4: 150.60 - Low June 14
*COMMENTARY: Narrow sideways trading came to an end last week with fresh 4 week
highs Thursday reinforcing focus on 151.02-19 where 2018 & monthly highs are
situated. Daily studies looking to correct from modestly O/B and the lack of
topside follow through remain concerns for bulls. In saying that, bears still
need a close below 150.89 to ease bullish pressure and return initial focus to
150.71-80.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]

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