USD/JPY: Position Short as Sideways Trend Holds Key Resistance

Current Market Dynamics

The USD/JPY pair is currently trading at 149.65, demonstrating a largely sideways trend over the past 24 hours with a modest 0.1% increase. The daily range has been tightly constrained between 149.43 and 149.87, indicating a period of consolidation where neither buyers nor sellers have established clear dominance. However, I observe the pair encountering significant resistance as it approaches the upper bound of this recent range,