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: trade below cloud

 Tatiana Norkina, FBS analyst

Testing of the four-hour Ichimoku cloud upper border turned out a failure. A one-time touch of the Senkou Span A level in the 121.20 area, which was mentioned in the previous review, ended in a total defeat of the bulls. The currency pair rate plummeted, breaking the horizontal support of Senkou Span B.

Then, the pair consolidated in the negative zone, once again confirming the bears commitment.

Under these circumstances, we can expect the prices lowering into the 118.80 area.

Technical levels: support – 119.60, 119.20, 118.80; resistance – 119.80, 120.10.

Trade recommendations:

1. Sell— 120.00; SL — 120.20; TP1 — 119.20; TP2 — 118.80.


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