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AUD/JPY is approaching its support at 79.18 (61.8% Fibonacci extension x2, 61.8% Fibonacci retracement, horizontal overlap support) where the price is expected to bounce up to its resistance at 80.68 (61.8% Fibonacci retracement, horizontal pullback resistance).

Stochastic (55, 5, 3) is approaching its support at 3.7% where a corresponding bounce is expected.

AUD/JPY is testing its support where we expect to see a bounce.

Buy above 79.18. Stop loss at 78.45. Take profit at 80.68.

The material has been provided by InstaForex Company – www.instaforex.com

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