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theforexarmy

AUDJPY prepare to buy above major support

Long
Australian Dollar / Japanese Yen (FX:AUDJPY)  
theforexarmy  
FX:AUDJPY   Australian Dollar / Japanese Yen
AUDJPY audjpyshort audjpyidea audjpydaily audjpynews audjpylong aud jpy audjpyanalysis audjpy1hr audjpylongsetup audjpysell audjpytrade
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audjpy audjpyshort audjpyidea audjpydaily audjpynews audjpylong aud jpy audjpyanalysis audjpy1hr audjpylongsetup audjpysell audjpytrade
Buy above 86.34. Stop loss at 85.92. Take profit at 87.48.
Reason for the trading strategy (technically):
We prepare to turn bullish above major support at 86.34 (Fibonacci retracement, Fibonacci extension) for a push up to 87.48 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (21,5,3) is seeing strong support above our 6% level signalling a bounce is impending.

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