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: trade recommendation for USD/JPY

 Tatyana Norkina, FBS analyst

Demand for the Japanese Yen keeps on falling. On Monday the USD/JPY exchange rate rose to 106.00 (+100 pips). On Tuesday we've seen a new high of 106.30.

Ichimoku. Both short- and long-term Ichimoku indicators are moving up. However, market has already become oversold. What's more, 106.30 is a strong resistance. H4 and H1 Chinkou Span points to a forthcoming bearish correction. Break below the 106.05 will be a selling signal for the short-term traders. 

Technical levels: support – 106.00/05; resistance – 106.30, 106.90.

Trade recommendation:

1. Buy —106.05; SL — 105.85; TP1 — 106.30; TP2 — 106.90.

2. Sell —106.00; SL — 106.20; TP1 — 105.55.

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