FX.co ★ AUD/JPY approaching major support, prepare to buy

Price has dropped notably and we're expecting an intermediate corrective bounce up to 79.56 above our support level at 78.80 (Fibonacci retracement, horizontal support).

Stochastic (21) is bouncing off our 10% major support.

Buy above 78.80. Stop loss at 78.28. Take profit at 79.56.