FX.co ★ AUD/JPY testing major support, time to start buying

The price is now testing major support at 88.52 (Fibonacci retracement, Fibonacci extension, horizontal overlap support, bullish divergence) and we expect to see a bounce above this level to push price up to 89.66 resistance (Fibonacci extension, horizontal swing high resistance).

Stochastic (34,3,1) is seeing support above 5% and also sees bullish divergence vs price signalling that a reversal is impending.

Buy above 88.52. Stop loss is at 87.89. Take profit is at 89.66.