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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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AUD/JPY approaching major support, prepare to buy

Price is approaching major support at 85.60 (Fibonacci retracement, horizontal swing low support, Fibonacci extension) and we look to buy on weakness at this level for a bounce to at least 86.97 resistance (Fibonacci extension, horizontal swing high resistance).

Stochastic (34,5,3) is seeing strong support above 7% which stochastic is fast approaching.

Buy above 85.60. Stop loss at 84.88. Take profit at 86.97.

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