theforexarmy
Long

AUDJPY profit target reached, time to go bullish

FX:AUDJPY   Australian Dollar/Japanese Yen
Buy above 85.34. Stop loss at 84.97. Take profit at 86.08.
Reason for the trading strategy (technically):
Price reached our profit target for the 4th time in a row. We turn bullish above 85.34 support ( Fibonacci projection , horizontal support) for a push up to at least 86.08 ( Fibonacci retracement , horizontal pullback resistance).
Stochastic (21,5,3) is approaching strong support at 5.5%.
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