120
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: in the cloud zone

 Tatiana Norkina, FBS analyst

The bulls thoughtfulness could not have come at a better time for the bears benefit. To some extent, the sellers have taken advantage of the FRS meeting results as well, pressuring the four-hour Ichimoku cloud hard. At night, the currency pair rate was falling to the 119th figure area, violating the long-term consolidation above the cloud.

Profit fixation by the short-term traders this morning has resulted in a prices rebound deep into the cloud. And trades are obvious to continue within the range formed by the Senkou Span A and B lines.

Please, be warned that trading under these conditions are quite risky and we recommend you to stay out of the market today.

Technical levels: support – 120.10; resistance – 121.25.

Trade recommendations:

1. Buy — 120.10/20; SL — 119.90; TP1 — 121.20; TP2 — 121.80.

JPY
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