USDJPY near resistance , could possibly drop

USDJPY is approaching our first resistance at 109.80(horizontal swing low support, 61.8% Fibonacci extension,38.2% Fibonacci retracement ) where a strong drop might occur pushing the price down to our major support at 108.65(horizontal swing high resistance, ,50%Fibonacci retracement, 61.8% Fibonacci extension). Stochastic is also approaching resistance
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.