FX.co ★ EUR/JPY profit target reached perfectly, prepare to buy for a bounce

Price has dropped from our selling area perfectly and reached our profit target. We prepare to buy above the major support at 129.54 (Fibonacci retracement horizontal overlap support, Fibonacci extension) for a rise to at least 130.50 resistance (Fibonacci extension, horizontal swing high resistance).

Stochastic (21,5,3) is seeing strong support above 7.5% from where we expect a bounce that corresponds to the bounce we're expecting on price.

Buy above 129.54. Stop loss at 129.20. Take profit at 130.50.