USDJPY is approaching our first resistance at 113.80 (horizontal swing high resistance, 61.8% Fibonacci retracement) where a strong reaction might occur below this level pushing price down to our major support at 111.35 (horizontal pullback support, 23.6%, 50% Fibonacci retracement, 61.8% Fibonacci extension). Stochastic (89,5,3) is also approaching resistance and 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.