GBPJPY is approaching our first resistance at 146.02 (horizontal overlap resistance, 50%, 61.8% Fibonacci retracementt) where a strong drop might occur below this level pushing price down to our major support at 142.09 (horizontal overlap support, 23.6% Fibnacci retracement). Stochastic (89,5,3) is also approaching resistance 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.