FX.co ★ AUD/JPY dropped strongly, prepare to buy for a corrective bounce

The price has dropped strongly and is now testing strong support at 88.11 (Fibonacci retracement, horizontal pullback support) and we expect to see a corrective bounce from here to at least 88.69 resistance (Fibonacci retracement, horizontal swing high resistance).

Stochastic (34,3,1) is seeing strong support above our 1.2% where we expect a corresponding bounce from.

Buy above 88.11. Stop loss is at 87.72. Take profit is at 88.69.