AUD/JPY looking for a bounce above major support

The price continues to inch lower and we're starting to see major support at 85.53 (Fibonacci extension, horizontal swing low support) where we expect a bounce from to push the price up to at least 86.67 resistance (Fibonacci retracement, horizontal pullback resistance).

Stochastic (89,3,1) is seeing major support above 1.1% where we expect a corresponding bounce from.

Buy above 85.53. Stop loss is at 84.92. Take profit is at 86.67.


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