FX.co ★ AUD/JPY Trading Recommendation for 15th June 2016

We're seeing a strong fibonacci projection support at 77.50 along with it being a graphical swing low + it corresponds with the RSI's 30% support and a bullish divergence vs the RSI. All these add to a strong conviction we have on seeing AUD/JPY bounce above this level to at least 78.90.

Trading recommendations:

Entry now and once more at 77.50

Take profit at 78.90

Stop loss at 76.70