GBPJPY is approaching our first resistance at 148.24 (horizontal pullback resistance, 50%, 76.4% Fibonacci retracement, 100% Fibonacci extension) and a strong drop might occur below this level, pushing price down to our major support at 145.69 (61.8% Fibonacci extension, 50% fiboancci retracement). Stochastic (55,5,3) is also approaching resistance and seeing a bearish divergence 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.