USD/JPY: Technical Rejection Anticipated within Defined Sideways Range

Technical Structure and Entry Rationale

USD/JPY is currently trading within a well-defined sideways structure, with the current price at 149.26. The daily range clearly indicates resistance near 149.62 and immediate support around 148.9. My analysis of the technical charts reveals that the currency pair is struggling to sustain moves above the upper boundary of this range. The structure is clear: we are observing a potential rejection from this immediate resistance area. My short entry at 149.4 is strategically placed to capitalize on this anticipated rejection, positioning within the upper half of the day's range but below the prominent 149.62 resistance level. This aligns with a swing trading approach