USD/JPY approaching resistance, potential drop!

USDJPY approaching 1st resistance at 108.11 where a reversal could occur.

Entry :108.11

Why it's good : 50% & 76.4% Fibonacci retracement

61.8% Fibonacci extension

Horizontal overlap resistance

Take Profit : 107.80

Why it's good : 38.2% Fibonacci retracement, horizontal overlap support