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: have bears run out of power?

 Tatiana Norkina, FBS analyst 

Despite the strengthening of prices under a four-hour cloud, bears are not in a hurry to continue the downward trend - strong support in 117.00 is holding them back. Another rebound from the figure made up Tenkan and Kijun form a golden cross. In this case, all the lines of the indicator went sideways, keeping sideways trend.

Some uncertainty is visible on oscillators too, but MACD, nevertheless, is under zero mark. Do not rule out the possibility of continuing downtrend in the event of further price fixing under the Tenkan and Kijun. Otherwise testing of lower cloud line is likely to happen.

Technical levels: Support - 117.00; resistance - 117.40, 117.80, 118.00.

Trading recommendations: 1. Sell- 117.30; SL - 117.50; TP1 - 116.90; TP2 - 116.40.

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