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MEX_Exchange

AUDJPY remain bullish as we continue to test support

Long
Australian Dollar / Japanese Yen (FX:AUDJPY)  
MEX_Exchange  
FX:AUDJPY   Australian Dollar / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns AUDJPY aud jpy audjpyshort audjpylong audjpysell audjpydaily Forex forextrading
4
0
trendanalysis harmonicpatterns chartpattern audjpy aud jpy audjpyshort audjpylong audjpysell audjpydaily forex forextrading
Buy above 86.92. Stop loss at 86.52. Take profit at 87.61.
Reason for the trading strategy (technically):
Price has continued to test our buying area yesterday. We prepare to buy above major support at 86.92 (Fibonacci retracement, horizontal overlap support) for a bounce up to at least 87.61 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,5,3) is seeing strong support above 3.9% where we expect a bounce from.
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