AUDJPY rising nicely from our buying area, remain bullish
Buy above 84.78. Stop loss at 84.39. Take profit at 86.13.
Reason for the trading strategy (technically):
Price has continued to rise nicely from our buying entry. We remain bullish above 84.78 support (Fibonacci retracement, horizontal swing low support) for a further rise to at least 86.13 resistance (Fibonacci retracement, horizontal swing high resistance, Fibonacci extension).
Stochastic (55,3,1) is seeing strong support above 1.4% and has good upside potential following the recent bounce.
Reason for the trading strategy (technically):
Price has continued to rise nicely from our buying entry. We remain bullish above 84.78 support (Fibonacci retracement, horizontal swing low support) for a further rise to at least 86.13 resistance (Fibonacci retracement, horizontal swing high resistance, Fibonacci extension).
Stochastic (55,3,1) is seeing strong support above 1.4% and has good upside potential following the recent bounce.