We look to add to our position on USD/JPY at the 99.50 support level (Fibonacci projection, horizontal support) for a rise to 101.00 resistance (pullback horizontal resistance, Fibonacci retracement, Fibonacci projection) at least.
RSI (34) is seeing strong support from its ascending support line that means we might see a bounce soon.
Stochastics (21,5,3) is also seeing strong support at the 3% level where we expect a bounce from.
Buy again above 99.50 Stop loss is at 99.00. Take profit is adjusted to 101.00
The material has been provided by InstaForex Company – www.instaforex.com
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