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MEX_Exchange

AUDJPY dropped strongly, prepare to buy for a corrective bounce

Long
U.S. Dollar / Japanese Yen (FX:USDJPY)  
MEX_Exchange Updated   
FX:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns AUDJPY aud jpy audjpyshort audjpylong audjpysell audjpydaily Forex forexsignals
61
7
trendanalysis harmonicpatterns chartpattern audjpy aud jpy audjpyshort audjpylong audjpysell audjpydaily forex forexsignals
Buy above 88.11. Stop loss at 87.72. Take profit at 88.69.
Reason for the trading strategy (technically):
Price has dropped strongly and is now testing strong support at 88.11 (Fibonacci retracement, horizontal pullback support) and we expect to see a corrective bounce from here to at least 88.69 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (34,3,1) is seeing strong support above our 1.2% where we expect a corresponding bounce from.
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