Norkina: yen appreciated against dollar

Tatiana Norkina

For the second day the currency pair USD/JPY has been falling to recent minimums because of general depreciation of American dollar. Yesterday evening the pair tested the support of 118.60 and continues consolidation above this important level.

The four-hour Ichimoku indicator has completely changed in favour of bears: dead cross and bearish cloud will, obviously, have a negative impact on market sentiment. Therefore, downtrend will be relevant for some time.

Technical levels: Support - 118.60; Resistance - 119.25.

Trading recommendations:

1. Sell - 119.25; SL - 119.45; TP1 - 118.20; TP2 - 117.80.

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