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: growth happening or not?

 Tatiana Norkina, FBS analyst

Yesterday, the bulls were active on the market. Having consolidated above the Tenkan and Kijun lines, the currency pair rate grew up to the Ichimoku cloud, and this morning the bulls are trying to take its upper border resistance by storm. Let us note right away that there is a powerful level in the 120.30/40 area that might slightly cool the desire to buy. Therefore, a rebound to the Tenkan or even Kijun-sen line is possible in the near future. Then, the growth is likely to continue.

Technical levels: support – 119.30, 119.60; resistance – 120.30/40.

Trade recommendations:

1. Buy — 119.60/70; SL — 119.40; TP1 — 120.60; TP2 — 121.20.

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