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: trading within cloud

 Tatiana Norkina, FBS analyst

The currency pair still fails to escape from the cloud area, where it ended up on Monday. Growth to the four-hour Ichimoku cloud upper border does not yet prove the bulls' strength. On the contrary, the second attempt has already been unsuccessful: the Senkou Span B line resistance testing was followed by a sharp rebound to Kijun-sen that had formed support in the 119.60 area.

Consolidation at these levels is obvious to exert moral support to the buyers and, possibly, attract new ones. Otherwise, the bears might arrange powerful sales that can lead to the daily trend change - the dead cross looks way too suspicious on the daily timeframe.

Technical levels: support – 119.30, 119.60; resistance – 120.20/30.

Trade recommendations:

1. Sell — 119.40; SL — 119.60; TP1 — 118.30; TP2 — 118.00.

2. Buy — 120.00; SL — 119.80; TP1 — 120.60; TP2 — 121.20.

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