AUDJPY remain bullish for a bounce
Buy above 87.92. Stop loss at 87.20. Take profit at 88.85.
Reason for the trading strategy (technically):
Price continues to test our buying area and is starting to bounce nicely. We remain bullish looking to buy above 87.92 support (Fibonacci retracement, horizontal overlap support, bullish exit) for a push up to at least 88.85 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,3,1) is seeing nice support above 5% and has good upside potential.
Reason for the trading strategy (technically):
Price continues to test our buying area and is starting to bounce nicely. We remain bullish looking to buy above 87.92 support (Fibonacci retracement, horizontal overlap support, bullish exit) for a push up to at least 88.85 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,3,1) is seeing nice support above 5% and has good upside potential.
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