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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.

Yen keeping at 124th figure

 Tatiana Norkina, FBS analyst

Despite the exit and consolidation in the positive area, the USD/JPY currency pair cannot break upwards through the three-weeks-old resistance. The bulls have bumped into the powerful level of 124.20/60, but are not willing to cave in yet. Indeed, the Ichimoku cloud is bullish on the four-hour timeframe. At the same time, the Tenkan and Kijun lines formed a dead cross yesterday, that is why, we might see the rate decline to the cloud's upper border, into the ​​123.60 area, in the near future. Then we can expect the major uptrend resumption.

Technical levels: support – 123.90, 123.60; resistance – 124.20.

Trade recommendtaions:

1. Buy — 123.60; SL — 123.40; TP1 — 125.00; TP2 — 125.60.

JPY
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