USD/JPY bouncing nicely above major support, remain bullish

The price has bounced off nicely from our buying entry area yesterday. We remain bullish looking to buy above major support of 108.85 (Fibonacci extension, horizontal swing low support) for a push up to at least 110.28 resistance (Fibonacci retracement, horizontal overlap resistance).

Stochastic (34,5,3) sees an ascending support line holding up our bullish movement really well.

Buy above 108.85. Stop loss is at 108.28. Take profit is at 110.28.


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