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.

Yen gotten stronger

 Tatiana Norkina, FBS analyst

Under the bears' pressure, the currency pair was testing the three-week lows in the 118.80 area yesterday. The rate's decline was also caused by a significant weakening of the US dollar against the major world currencies. The four-hour Ichimoku indicator has changed completely, altering the cloud's character for the downwards and forming a dead cross. But there is quite a strong support level at 118.80 which is restraining the bears' rapid attack so far. Sales are also restricted by the market oversoldness, which is confirmed by the Chinkou line being in the corresponding area.

During today's trading, consolidation is possible at the current levels and, after the Tenkan and Kijun lines resistance testing, the pair may continue the downtrend.

Technical levels: support  – 118.80; resistance – 119.45, 119.80.

Trade recommendations:

1. Sell — 119.50; SL — 119.70; TP1 — 118.80; TP2 — 118.50.

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