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theforexarmy

AUDJPY right above support, remain bullish

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 audjpyaudjpy
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audjpy audjpyshort audjpyidea audjpydaily audjpynews audjpylong aud jpy audjpyanalysis audjpy1hr audjpylongsetup audjpysell audjpyaudjpy
Buy above 85.34. Stop loss at 84.97. Take profit at 86.08.
Reason for the trading strategy (technically):
We remain 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 bouncing nicely above strong support at 5.5%.

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AUDJPY bouncing nicely above support, remain bullish
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