FX.co ★ AUD/JPY profit target reached perfectly, prepare for a bounce

The price has dropped perfectly from our selling area and reached our profit target perfectly. We look to buy above major support at 88.37 (Fibonacci retracement, horizontal overlap support) for a bounce up to at least 89.01 resistance (Fibonacci extension, horizontal swing high resistance) once again.

Stochastic (34,5,3) is seeing support above 4.5% and 10% where we expect a corresponding bounce.

Buy above 88.37. Stop loss at 88.11. Take profit at 89.01.