FX.co ★ USD/JPY Bounced Nicely Off Its Support, Prepare For A Further Rise

USD/JPY tested its support and bounced off it at 106.64 (61.8% Fibonacci extension, 50% Fibonacci retracement, 60% Fibonacci retracement, horizontal overlap support) where we expect it to rise to its resistance at 107.50 (61.8% Fibonacci extension, horizontal swing high resistance).

Stochastic (21, 5, 3) made a corresponding bounce off its support where we expect to see it rise.

Buy above 106.64. Stop loss at 106.13. Take profit at 107.50.