FX.co ★ USD/JPY bouncing up perfectly, remain bullish for a further rise

The price has bounced up perfectly as expected. We remain bullish looking to buy above major support of 108.85 (Fibonacci extension, horizontal swing low support) for a push up to at least 110.28 resistance (Fibonacci retracement, horizontal overlap resistance).

Stochastic (34,5,3) is bouncing off nicely from our 2.3% support with good upside potential.

Buy above 108.85. Stop loss is at 108.28. Take profit is at 110.28.