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: yen weakening

 Tatiana Norkina, FBS analyst

As expected, the Japanese yen keeps losing positions against the US dollar. Consolidation above the Tenkan and Kijun support in the 118.20 area allowed new buyers to get into the game, and they restored the pair's rate to the 120th figure.

Line of all indicators have turned upwards, supporting the growth.

However, we know there is a powerful resistance in the 120.40/60 area. Apart from that, regarding the Chinkou line location and RSI being above the 70th mark, we can state the pair's local overboughtness with certainty. Consequently, we can expect consolidation at the current levels, with prices return to the Tenkan-sen support, where one can observe quite promising points for buying with goals towards the 121st figure.

Technical levels: support – 119.60; resistance – 120.40, 120.90.

Trade recommendations:

1. Buy— 119.60; SL — 119.40; TP1 — 120.40; TP2 — 120.90.

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