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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.

Dollar taken lead from Yen

 Tatiana Norkina, FBS analyst

Strong support in the 118.50/80 area has again kept the currency pair from falling. Over the past four weeks, the bears have tried three times to reverse the daily trend. But so far, they have failed, which has been taken advantage of by the short-term buyers. For the second day in a row, the dollar has been strengthening against the Japanese currency, forming today's highs in the 119.40 area.

Nevertheless, the overall trend remains bearish. Thus, the dead cross is still in action, and the Ichimoku cloud is expanding downwards. Perhaps, after testing of the cloud's lower border levels, the downtrend will be resumed.

Technical levels: support – 118.50, 119.00; resistance – 119.50/60.

Trade recommendations:

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

JPY
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