FX.co ★ AUD/JPY inverse head and shoulders, time to buy

Price has formed an inverse head-and-shoulders reversal pattern. We look to buy above major support at 79.00 (Fibonacci retracement, shoulder support) for a push up to 79.80.

RSI (34) is bouncing off our 42% major support.

Buy above 79.00. Stop loss at 78.42. Take profit at 79.80.