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

Yesterday the bears managed to break below support at 107.90 and pull the pair down to the 4-week minimum at 106.70.

Ichimoku indicator. On both timeframes the indicator shows that the bears are determined for more downside.

Thus, on H1 Tenkan and Kijun formed a new Dead Cross, while the Cloud is becoming more bearish, extending down.

On H4 the Cloud is changing from bullish to bearish mode. This is happening while the pair’s trading in negative territory, under the influence of the Dead Cross.

As a result, the pair may test and support at 106.50.

Technical levels:
Support - 107.00, 106.50; resistance - 107.30, 107.90.

Trading recommendations:

1. Sell - 107.30; SL - 107.50; TP1 - 106.50.

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