FX.co ★ AUD/JPY approaching profit target, remain bullish

The price has bounced up nicely from our buying level yesterday and is on track to reaching our profit target. We remain bullish above the 82.83 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support) for a push up to at least the 83.40 resistance (Fibonacci extension, swing high resistance, Elliott wave theory).

Stochastic (21,5,3) is seeing strong support above 2.7% where we expect a bounce from.

Buy above 82.83. Stop loss at 82.54. Take profit at 83.40.