The price is approaching major support at 85.68 (Fibonacci retracement, horizontal swing low support, Fibonacci extension) and we expect to see a bounce above this level for a corrective move up to at least 86.33 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,5,3) is approaching major support at 1.2% where we expect a bounce from.
Correlation analysis: We're seeing bounces both on AUD/JPY and EUR/JPY.
Buy above 85.68. Stop loss is at 85.29. Take profit is at 86.33.
