USDJPY approaching resistance, potential drop!

FX:USDJPY   U.S. Dollar / Japanese Yen
USDJPY is approaching our first resistance at 111.38 (horizontal pullback resistance, 61.8% fiboancci extension, 23.6% fibonacci retracement ) where a strong drop might occur below this level pushing price down to our major support at 109.75 (horizontal pullback support, 100% fiboancci extension).
Stochastic (21,5,3) is also approaching resistance and we might see a corresponding drop in price.
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