AUDJPY prepare to buy above major supportBuy above 86.34. Stop loss at 85.92. Take profit at 87.48.
Reason for the trading strategy (technically):
We prepare to turn bullish above major support at 86.34 (Fibonacci retracement, Fibonacci extension) for a push up to 87.48 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (21,5,3) is seeing strong support above our 6% level signalling a bounce is impending.
Audjpytrade
AUDJPY below strong resistance, turn bearishSell below 87.05. Stop loss at 87.56. Take profit at 86.076.
Reason for the trading strategy (technically):
We are bearish below 87.05 resistance (Fibonacci retracement, horizontal pullback resistance) for a push down to 86.07 support (Fibonacci retracement).
Stochastic (21,5,3) is seeing a nice reaction from the 95% level.
AUDJPY profit target reached perfectly, prepare to turn bearishSell below 86.72. Stop loss at 85.98. Take profit at 87.10.
Reason for the trading strategy (technically):
Price has reached our profit target perfectly from yesterday. We prepare to turn bearish below 86.72 resistance (Fibonacci extension, horizontal swing high resistance) for a push down to 85.89 support (Fibonacci retracement, horizontal overlap support).
Stochastic (21,5,3) is seeing strong resistance below the 95% level.
AUDJPY bouncing nicely above support, remain bullishBuy above 85.34. Stop loss at 84.97. Take profit at 86.08.
Reason for the trading strategy (technically):
Price is bouncing nicely above our buying level from yesterday. We remain bullish above 85.34 support (Fibonacci projection, horizontal support) for a push up to at least 86.08 (Fibonacci retracement, horizontal pullback resistance).
Stochastic (21,5,3) is bouncing nicely above strong support at 5.5%.