USDJPY right on major support, time to start buying!

Price is bouncing nicely off major support at 112.04 (Fibonacci retracement, Fibonacci extension, horizontal overlap support area) and we expect to see a strong push up to at least 113.11 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance).

Stochastic (55,3,1) is seeing major support above 4.8% and we expect a strong bounce above this level.