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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.

FBS: trading recommendation for USD/JPY

Tatiana Norkina, FBS analyst

Yesterday the pair traded within the hourly Ichimoku Cloud, in a very narrow range. Perhaps we can talk about the short-term fixing of the prices above 102.00 as it was followed by the break of the Cloud’s top.

Ichimoku indicator. Indeed, the bullish sentiment on H1 is gaining momentum. Active Golden Cross and the change in the nature of the Cloud to the positive can help in the recovery of the currency pair to 102.65 or even 102.80. At the same time, the H1 observed strong resistance level around 102.40/102.45.

At H4 there’s an ambiguous situation a result ofthe last week’s decline.The collapse ofprices below the Ichimoku Cloud forced the bearish cross of the lines Senkou Span A and Senkou Span B.That is, the Cloud has become bearish. However, the bulls are trying toregain the lost ground and return inside of the Cloud. In addition, the Dead Cross formedby Tenkan and Kijun early last weekis at the cancellation stage. Therefore, we can assume that, if the prices fix above 102.10, we should expect growthto the levels above 102.65 or 102.80.

Technical levels:Support -102.10, 102.25; resistance - 102.40, 102.65, 102.80.

Trading recommendations:

1. Buy - 102.10; SL - 101.90; TP1 - 102.65; TP2 - 102.80.

JPY
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