GBPJPY is approaching our first resistance at 143.39 (horizontal pullback resistance, 100%, 61.8% Fibonacci extension, 38.2% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 139.30 (horizontal swing low support, 100% Fibonacci extension, Elliot wave structure). A breakout below our intermediate support at 140.39 (horizontal swing low support, 161.8% Fibonacci extension) might provide the bearish acceleration to our major support target. RSI (89) is also approaching resistance and a reaction below this level 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.