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AUD/JPY above major support, prepare to buy

The price is right above major support at 83.77 (Fibonacci retracement, horizontal swing low support) where we expect a bounce from to at least 85.22 resistance (Fibonacci retracement, horizontal pullback resistance).

Stochastic (21,5,3) is seeing strong support above the 7% level and also displays bullish divergence versus the price.

Buy above 83.77. Stop loss is at 82.73. Take profit is at 85.22.

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

from www.instaforex.com https://www.instaforex.com/forex_analysis/89815/?x=BPDZ
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