MEX_Exchange
Long

USDJPY looking to buy on dips for a bounce

FX:USDJPY   U.S. Dollar / Japanese Yen
Buy above 111.94. Stop loss at 111.60. Take profit at 113.06.
Reason for the trading strategy (technically):
Price had dropped perfectly towards our profit target. We look to close off our position in profit and buy on dips above 111.94 support ( Fibonacci retracement , horizontal overlap support, Fibonacci extension ) for a bounce up to at least 113.06 resistance ( Fibonacci extension , horizontal swing high resistance, Fibonacci retracement ) once again.
Stochastic (21,3,1) is bouncing nicely off our 6.2% support with good upside potential.

which time frame is this ?
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