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 - pressure remains

 Tatiana Norkina, FBS analyst

The USD/JPY currency pair managed to regain its positions yesterday after the morning gap down of almost a figure, into the 122nd figure area. However, having returned to 123.00, the pair met a strong resistance from the Tenkan and Kijun lines. It should be noted as well that the four-hour Ichimoku cloud lower border has formed a powerful level here.

Obviously, it will be pretty hard for the bulls to break higher. But if it happens, we do not rule out a change of the major trend to upward. Otherwise, we will expect furher rate's decline below 122.00.

Technical levels: support – 122.00, 121.70; resistance – 122.80, 123.00.

Trade recommendations:

1. Sell — 122.70; SL — 122.90; TP1 — 122.00; TP2 — 121.70.

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