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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: the bulls are confident

 Tatiana Norkina, FBS analyst

The currency pair continues recovery at a moderate pace. Fixing above four-hour Ichimoku cloud allowed bulls to target 120.60. However, today we are observing the entry line Chinkou Span in the overbought zone. This could trigger a corrective depreciation of the currency pair to the support of Tenkan and Kijun.

The overall situation remains under control of bulls: a gold cross and positive cloud will empower buyers.

Oscillators also grow gradually, supporting the bullish trend in the market.

Technical levels: Support - 119.50, 119.10; resistance - 120.60. 

Trading recommendations:

1. Buy- 119.50; SL - 119.30; TP1 - 120.60; TP2 - 121.20.

JPY
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