FX.co ★ USD/JPY profit target almost reached, turn bullish

Price dropped from our selling area perfectly as expected. It is now on its way towards our initial profit target. We change our view to buy above 102.20 support (overlap support, Fibonacci retracement, Fibonacci projection) for a push up to 103.20.Stochastics (21,3,3) is approaching ascending support signalling that a bounce is approaching.Likewise, RSI (21) is approaching ascending support indicating that a bounce is approaching.

Buy above 103.05. Stop loss at 101.35. Take profit at 103.20.