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: Bulls power is ending

 Tatiana Norkina, an analyst at FBS

Bulls efforts aimed at breaking through the resistance of the four-hour Ichimoku cloud upper boundary, seems to be vain. Attempts to break Senkou Span B ended in failure for three times, which may indicate an early resumption of the corrective depreciation of the currency pair.

Currently trades are conducted within the cloud, but in support of Tenkan and Kijun. If this level resists the pressure of bears, we should expect both the jump in prices in negative zone and renewal of the two-week lows.

Technical levels: Support - 118.00; resistance - 118.30, 118.50.

Trading recommendations: 1. Sell- 118.00; SL - 118.30; TP1 - 117.00; TP2 - 116.40.

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