USDJPY is approaching our first resistance at 109.75 (horizontal pullback resistance, 50% Fibonacci retracement , 100% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 107.87 (38.2% Fibonacci retracement, horizontal swing low support). Stochastic (55,5,3) 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.