AUDJPY profit target reached perfectly, prepare to buy again
Buy above 86.55. Stop loss at 86.11. Take profit at 87.78.
Reason for the trading strategy (technically):
Price has bounced up perfectly to our profit target from last week. Today we prepare to buy above major support at 86.55 (Fibonacci retracement, horizontal swing low support, Fibonacci extension) for a bounce up to at least 87.78 resistance (price gap, horizontal resistance).
RSI (34) is seeing ascending support holding up our bullish momentum really well.
Reason for the trading strategy (technically):
Price has bounced up perfectly to our profit target from last week. Today we prepare to buy above major support at 86.55 (Fibonacci retracement, horizontal swing low support, Fibonacci extension) for a bounce up to at least 87.78 resistance (price gap, horizontal resistance).
RSI (34) is seeing ascending support holding up our bullish momentum really well.