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theforexarmy

AUDJPY remain bullish above strong support

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 audjpybuy
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audjpy audjpyshort audjpyidea audjpydaily audjpynews audjpylong aud jpy audjpyanalysis audjpy1hr audjpylongsetup audjpysell audjpybuy
Buy above 86.17. Stop loss at 85.80. Take profit at 87.17.
Reason for the trading strategy (technically):
We remain bullish above 86.17 support (Fibonacci retracement, horizontal swing low support) where we expect a bounce from to at least 87.17 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (55,5,3) is seeing strong support above the 10% level where we hope to see a further bounce from.
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