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.

Bears won battle

 Tatiana Norkina, FBS analyst

The four-week consolidation of USD/JPY above 122.00 is finally over. As expected, it was very hard for the bulls to break above the 123rd figure early this week as a powerful resistance had been formed here by the Kijun-Sen and Senkou Span A lines. Having bounced from them exactly, the currency pair rate darted down, returning to the 120.40/60 mark (As a side note, this level had been disturbing the bulls for a long time - from March to May of this year).

This morning, the bulls are active in the market, having corrected the currency pair rate into the 121.40 area. However, the general sentiment in the market is determined by the bearish cloud and the dead cross formed by the Tenkan and Kijun lines.

Technical levels: support – 120.40/60; resistance – 121.70.

Trade recommendations:

1. Sell — 121.70; SL — 121.90; TP1 — 121.00; TP2 — 120.60.

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