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GBPJPY approaching resistance, further potential drop!

Short
British Pound / Japanese Yen (FX:GBPJPY)  
ICmarkets Broker  
FX:GBPJPY   British Pound / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns GBPJPY GBP jpy gbpjpylong gbpjpyshort Forex forextrading forexsignals
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trendanalysis harmonicpatterns chartpattern gbpjpy gbp jpy gbpjpylong gbpjpyshort forex forextrading forexsignals
GBPJPY is approaching our first resistance at 147.04 (horizonal overlap resistance, 23.6% Fibonacci retracement) and price might potentially drop to its support at 145.05 (horizontal swing low support). We do have to be cautious of our intermediate support at 145.96 (horizontal swing low support, 100% Fibonacci extension, Elliot wave structure) and a breakout below this level might push price down to our first support.
RSI is also seeing a bearish exit and Ichimoku cloud is showing signs of bearish pressure in line with our bearish bias.
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