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 recommendations for EUR / JPY

Tatiana Norkina, FBS analyst

The market developed a bullish scenario yesterday practicing previous long-terms recommendations. The currency pair reсovered to 137.80 resistance at closing. However, it became clear today that bulls can’t afford taking this level. Therefore,  an update of the recent lows should be expected  in the nearest future in case of breakdown of support figures 137.00 .

Bearish moods of market traders are confirmed by the data of the oscillators, which headed for a fall, as well as Bollinger Bands, which’s expanding in the downward direction.

Herewith, we can’t exclude the possibility of return to 137.40 / 137.50 . That’s why the sell of currency pairs could be relevant for these levels.

Technical levels: Support - 136.30, 136.60; resistance - 137.00, 137.50.

Trading recommendations:

1. Sell - 137.40 / 50; SL - 137.70; TP1 - 136.60; TP2 - 136.30.


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