FX.co ★ AUD/JPY gapped down to our profit target. Prepare to buy on major support

The price has gapped down to our profit target perfectly. We prepare to buy above major support at 87.00 (Fibonacci retracement, horizontal overlap support) for a bounce up to at least 87.78 resistance (Fibonacci extension, horizontal swing high resistance, price gap).

Stochastic (34,5,3) is seeing strong support above 3.9% where we expect a bounce from.

Buy above 87.00. Stop loss is at 86.52. Take profit is at 87.78.