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.

USD/JPY: purchases are risky

Tatiana Norkina, FBS analyst

Currency pair managed to stay in the positive area yesterday, although the morning started with a downward correction for 4-hour support of Tenkan and Kijun. As a result, all the indicator line have headed sideways and are currently in a horizontal position, which confirms flat market conditions. Trades are conducted at highs in 116.70.

The oscillators should be noted, which over the past two weeks formed a divergence with price schedule, that suggests a possible reversal of the market with the aim of a deeper correction. In these circumstances, buying a pair will be quite risky, but the main goal - 117.85 - is still not achieved.

Technical levels: Support - 116.20; resistance - 116.70, 117.85.

Trading recommendations:

1. Buy - 116.20; SL - 116.00; TP1 - 116.70; TP2 - 117.85.

2. Sell - 116.10; SL - 116.30; TP1 - 115.20; TP2 - 114.50.


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