USD/JPY testing major support, remain bullish for a push up

Price is once again testing our major level of support at 108.85. Our plan is to buy above this 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 (21,5,3) is bouncing off nicely from our 2.3% support with good upside potential.

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

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