Price has dropped perfectly from our selling area and has reached our profit target. We prepare to buy above 124.12 major support (Fibonacci retracement, horizontal overlap support) for a bounce up to at least 125.70 resistance (Fibonacci extension, horizontal resitance).
Stochastic (34,5,3) is seeing major support above 3.2% where we expect a bounce from.
Correlation analysis: We're expecting general JPY weakness with AUD/JPY and EUR/JPY expecting bounces.
Buy above 124.12. Stop loss at 123.28. Take profit at 125.70.
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