FX.co ★ AUD/JPY dropping nicely towards profit target, prepare to buy on major support

Price has dropped perfectly towards our profit target. We prepare to buy above major support at 86.02 (Fibonacci retracement, Fibonacci extension, horizontal swing low support) for a push up first to 87.01 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) before a further push up to 87.38 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance).

Stochastic (34,5,3) is seeing strong support above 1.5% where we expect a further bounce from.

Buy above 86.02. Stop loss at 85.72. Take profit at 87.01 and 87.38.