AUDJPY bouncing perfectly, remain bullish

FX:AUDJPY   Australischer Dollar/Japanischer Yen
Buy above 81.90. Stop loss at 81.67. Take profit at 82.90.
Reason for the trading strategy (technically):
Price has dropped perfectly to our buying area and bounced off perfectly. We remain bullish above major support at 81.90 ( Fibonacci extension , horizontal swing low support, bullish divergence ) and we expect a strong bounce above this level to at least 82.90 resistance ( Fibonacci retracement , horizontal swing high resistance).
Stochastic (34,5,3) is seeing strong support above the 8% level and also sees bullish divergence vs price signalling that a bounce is impending.
Correlation analysis: We’re expecting overall JPY strength today across USDJPY             and EURJPY             , hence it is best to exercise caution on this trade. --> join the waiting list for our free live trading room!
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