AUDJPY is approaching our first resistance at 78.89 (horizontal pullback resistance, 61.8% Fibonacci retracement, 100% fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 74.74 (50% fibonacci retracement). Stochastic (34,5,3) is also approaching resistance and we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.