EURJPY is approaching our first resistance at 129.20 (horizontal swing high resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur pushing price down to our major support at 127.61 (horizontal swing low support, 61.8% Fibonacci extension, 76.4% Fibonacci retracement). Stochastic (21,5,3) is also approaching resistance where 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.