AUDJPY starting to bounce nicely, remain bullish
Buy above 84.57. Stop loss at 83.63. Take profit at 86.67.
Reason for the trading strategy (technically):
Price has started to bounce nicely off our major support as expected. We remain bullish looking to buy above major support at 84.57 (Fibonacci retracement, horizontal overlap support) and we expect to see a bounce above this level to push price up to at least 86.67 resistance (Fibonacci retracement horizontal pullback resistance).
Stochastic (34,5,3) is seeing strong support above 6.1% where we expect a bounce from.
Reason for the trading strategy (technically):
Price has started to bounce nicely off our major support as expected. We remain bullish looking to buy above major support at 84.57 (Fibonacci retracement, horizontal overlap support) and we expect to see a bounce above this level to push price up to at least 86.67 resistance (Fibonacci retracement horizontal pullback resistance).
Stochastic (34,5,3) is seeing strong support above 6.1% where we expect a bounce from.