USDJPY approaching resistance, potential drop!

USDJPY is approaching our first resistance at 111.67 (50%, 76.4% Fibonacci retracement, 100% Fibonacci extension) and a strong reaction might occur below this level pushing price down to our major support at 110.75 (61.8% Fibonacci retracement).
Stochastic (89, 5, 3) is also approaching resistance and we might see a corresponding drop in price.
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