FX.co ★ AUD/JPY bouncing nicely above support, remain bullish

The price is bouncing nicely above major support at 86.92 (Fibonacci retracement, horizontal overlap support) and we expect a strong bounce above this level to push the price up to at least 87.61 resistance (Fibonacci retracement, horizontal swing high resistance, Fibonacci extension).

RSI (34) is seeing strong ascending support holding our bullish momentum.

Buy above 86.92. Stop loss is at 86.52. Take profit is at 87.61.