USD/JPY Approaching Support, Prepare For Bounce

The USD/JPY pair is approaching its support at 109.17 (61.8% & 100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 109.662 (61.8% Fibonacci retracement, horizontal swing high resistance).

Stochastic (55, 5, 3) is nearing its support at 6.8% where a corresponding bounce could occur.

USD/JPY is approaching its support where we expect to see a bounce.

Buy above 109.17. Stop loss at 108.84. Take profit at 109.66.


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