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: trading on Ichimoku

Tatyana Norkina, FBS

The currency pair found support in the 101.40 area yesterday and recovered to 101.80. Growth continued in the Asian session – the bulls pushed to the 101.90 mark.

Ichimoku. Tenkan and Kijun lines formed a strong golden cross on the H4 chart. The lines keep on moving higher, pointing to the strength of the short-term trend. However, the 102 figure is seen as a strong resistance and could brake further growth.This will definitely cause a corrective move. 

On the hourly chart the market is clearly overbought. There is a chance to dip into the 101.60/101.70 area after hitting 102.00.

Technical levels: support – 101.60, 101.70; resistance – 102.00.

Trade recommendations:

1. Sell — 102.00; SL — 102.20; TP1 — 101.70; TP2 — 101.60.

2. Buy — 101.60; SL — 101.40; TP1 — 102.00; TP2 — 102.10.

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