AUDJPY approaching major support, prepare to buy

2016-11-03 17:40    Exness

Buy above 78.80. Stop loss at 78.28. Take profit at 79.56.

Reason for the trading strategy (technically):

Price has dropped strongly and we're expecting an intermediate corrective bounce up to 79.56 above our support level at 78.80 (Fibonacci retracement, horizontal support).

Stochastic (21) is bouncing off our 10% major support.

JPYAUD

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