AUDJPY profit target reached perfectly, prepare to buy
Buy above 88.39. Stop loss at 88.17. Take profit at 89.10.
Reason for the trading strategy (technically):
Price has dropped perfectly and reached our profit target. We now prepare to buy above major support at 88.39 (Multiple Fibonacci retracement, horizontal overlap support) for a push up to at least 89.10 resistance (Multiple Fibonacci retracement, recent swing high resistance).
Stochastic (21,3,1) is seeing support above 1.2% where we expect a corresponding bounce from.
Reason for the trading strategy (technically):
Price has dropped perfectly and reached our profit target. We now prepare to buy above major support at 88.39 (Multiple Fibonacci retracement, horizontal overlap support) for a push up to at least 89.10 resistance (Multiple Fibonacci retracement, recent swing high resistance).
Stochastic (21,3,1) is seeing support above 1.2% where we expect a corresponding bounce from.