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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: child's play to bulls

 Tatiana Norkina, FBS analyst

The currency pair keeps growing steadily. An important level in the 117.85 area was passed yesterday; after that a new high of 118.50 was set. All indicators are bullish: Ichimoku lines are directed straight up, the MACD histogram is growing. At the same time, the RSI line has entered the zone of overboughtness.

In case of this trend retaining and consolidation above 118.50, the bulls' immediate goal will be the 119.40 and 120.60 marks, which can be observed on higher timeframes.

Technical levels: support – 117.50; resistance – 118.50, 119.40, 120.60.

Trade recommendations:

1. Buy — 118.60; SL — 118.40; TP1 — 119.40; TP2 — 120.60.

2. Sell — 118.40; SL — 118.60; TP1 — 117.50; TP2 — 117.10.

JPY
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