GBPJPY is approaching our first resistance at 146.40 (horizontal overlap resistance, 23.6% Fibonacci retracement, 100% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 144.935 (horizontal swing low support, 100% Fibonacci extension, 78.6% Fibonacci retracement). Stochastic (21,5,3) is also approaching our resistance where 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.