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Tatyana graduated from Bashkir State University with the major of Applied Mathematics and IT. She used to work as a system analyst in a large IT company. Entered the financial markets in 2008. Her trading system is based on classical technical analysis, Ichimoku indicator and the elements of fundamental analysis. Tatyana is very dedicated to her family and children. In her free time she enjoys rising a bicycle.

USD/JPY: Ichimoku analysis (Mar. 14)

By Tatyana Norkina, FBS analyst

Daily. As expected, Japanese yen strengthened against the US dollar during the past week. The bulls didn’t manage to overcome resistance to the Ichimoku Cloud’s top. After an unsuccessful attack which took 3 days they decided to retreat. As a result, USD/JPY collapsed to the negative area. By the end of the week trading was in the 101.60 area, close to the February support. A breakout below this level is possible, but before that the prices can return to the Tenkan and Kijun lines.



Chart. Daily USD/JPY

H4.
At H4 USD/JPY also fell below the Cloud. The situation has dramatically changed to downward. The dead cross of Tenkan and Kijun is in place, and that’s the reason to sell. The Ichimoku Cloud has become bearish. Next week we can expect continuation of the decline.



Chart. H4 USD/JPY

To contact the writer of this story: Tatyana Norkina at analytics@fxbazooka.com

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