FX.co ★ USD/JPY prepare to buy above major support

The price is now testing major support at 109.40 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) and we expect a bounce above this level for a push up to at least 110.21 resistance (Fibonacci retracement, horizontal overlap resistance, price gap).

Stochastic (34,5,3) is fast approaching strong support at 3.4% and we expect a bounce above this level.

Buy above 109.40. Stop loss is at 108.97. Take profit is at 110.21.