FX.co ★ USD/JPY Approaching Support, Prepare For A Bounce

USD/JPY is approaching its support at 112.65 (61.8% Fibonacci extension, 78.6% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 113.19 (50% Fibonacci retracement, horizontal overlap resistance).

Stochastic (55, 5, 3) is approaching its support at 5% where a corresponding bounce could occur.

USD/JPY is approaching its support where we expect to see a bounce.

Buy above 112.65. Stop loss at 112.28. Take profit at 113.19.