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.

FBS: USD/JPY looks bearish

   By Tatyana Norkina, FBS

Yesterday we mentioned the 101.60-101.80 range that could cap the recovery of the pair. It has now become evident that it is a real problem for the buyers to overcome this level. On Thursday USD/JPY is trading under strong bearish pressure. 

Ichimoku. On the H4 chart the upper boarder of the Cloud limited the upside. As a result, the pair stays inside of the Cloud, approaching its lower boarder. On the hourly chart the price is also testing the lower Ichimoku boarder around 101.45. The pair is expected to trade in this "cloudy" zone on Thursday. However, we don't exclude the chance to break the support to the downside and to resume the H4 descending trend. 

Technical levels: support – 101.30, 101.45; resistance – 101.60, 101.70, 101.80.

Trade idea:

Sell — 101.60; SL — 101.75; TP1 — 101.30; TP2 — 101.00.

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