AUD/JPY profit target reached perfectly, prepare to buy for a further rise

The price has shot up and reached our profit target perfectly from yesterday. We now look to continue to buy above 84.53 support (Fibonacci retracement, horizontal pullback support) for a further push up to 85.75 resistance (Fibonacci retracement).

Stochastic (55,5,3) is still bouncing up nicely from our 7% support and also displays strong bullish divergence potential for a further rise.

Buy above 84.53. Stop loss is at 83.90. Take profit is at 85.75.

The material has been provided by InstaForex Company - www.instaforex.com