AUD/JPY approaching major support, prepare to buy

We prepare to buy above major support at 86.02 (Fibonacci retracement, Fibonacci extension, horizontal swing low support) for a push up first to 87.01 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) before a further push up to 87.38 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance).

Stochastic (34,5,3) is seeing strong support above 1.5% where we expect a further bounce from.

Buy above 86.02. Stop loss is at 85.72. Take profit is at 87.01 and 87.38.

analytics599e4559aa5c5.png

The material has been provided by InstaForex Company - www.instaforex.com