AUD/JPY forming a nice reversal of the trend remains bullish




The price is finishing its triangle configuration, which is a sign that a recovery is imminent. We are looking to buy above the support (Fibonacci retracement, Fibonacci extension, horizontal swing low support) and play the break of the triangle to 89.09 resistance (Fibonacci retracement, horizontal recoil of the resistance).

Stochastic (34,3,1), it is to see a major support above 7%, and we expect a strong rebound above this level up quickly.

Buy above 88.04. Stop loss is 87.59. Take profit is at 89.09.



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