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

USD/JPY tested a strong resistance at 110.00 yesterday. A double test of this level revealed increasing bullish weakness. 

ichimoku. As a result, the Ichimoku setup changed on both timeframes. The H4 Tenkan and Kijun lines canceled the golden cross and are going to form a dead one. The Cloud is narrowing. Correction could target the 107.90 mark. 

On the H1 chart prices fell below the Cloud. There is an active dead cross. The bearish Cloud is pulling the market players to sell the pair. At the same time, Chinkou Span is lying in the overbought zone. Further decline of the pair could extend after a small corrective recovery to Tenkan-sen. 

Technical levels: support – 108.10, 108.60; resistance – 109.00.

Trade recommendation:

Sell — 108.90; SL — 109.10; TP1 — 108.60; TP1 — 108.10.

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