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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.

Can yen hold above cloud?

 Tatiana Norkina, FBS analyst

Recently, the USD/JPY currency pair has climbed into the positive area on the four-hour timeframe. The positive sentiment was determined by the golden cross formed by the Tenkan and Kijun lines. However, the pair's recovery process was interrupted near the 120th figure where there is a powerful resistance formed by the Senkou Span A and B lines. Stumbling upon it, the prices turned downwards and slid to the Ichimoku cloud upper border support, into the ​​119.60 area, this morning.

Obviously, if the bulls manage to hold above this level today, they will be able to make another attack on the 120.00 resistance in the near future. Otherwise, we do not rule out the prices enter the negative zone, below the cloud.

Technical levels: support – 119.60; resistance – 120.00.

Trade recommendations: off the market.

JPY
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