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.

USD/JPY taking 120.60 by storm

 Tatiana Norkina, FBS analyst

The USD/JPY currency pair has entered the positive area again within the recent days. Taking advantage of the four-hour Ichimoku cloud lower border support, the bulls have once again made an attack in the 120.60/70 area.

This morning, they have managed to consolidate above the cloud, with the Tenkan and Kijun lines reacting keenly to the sentiment change and beginning the golden cross formation.

The only thing that makes us consider a possible uptrend is the cloud's neutral character and the disposition of its lines.

Technical levels: support – 120.40; resistance – 120.60/70, 121.30.

Trade recommendations:

1. Buy — 120.80; SL — 120.60; TP1 — 121.30; TP2 — 121.80.


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