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 losing positions again

 Tatiana Norkina, FBS analyst

Hardly had USDJPY managed to update the local lows, testing 120.60 far below the four-hour Ichimoku cloud, tough purchasers immediately got into the game, returning the currency pair rate into the positive area. Yesterday, the pair was recovering to the 123.50 mark, having broken through the cloud's upper border resistance.

It should be noted that the Tenkan and Kijun lines have lifted up, following the prices and forming a golden cross. The Senkou Span A and B lines have also crossed, changing the major trend to upward. At the same time, Chinkou Span has entered the zone of overboughtness.

Therefore, a correction to the Tenkan line is possible in the near future, which is likely to be followed by further growth.

Technical levels: support – 123.00, 122.40/60; resistance – 123.70/90.

Trade recommendations:

1. Buy — 122.60; SL — 122.40; TP1 — 123.70; TP2 — 124.20.

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