USD/JPY: Navigating the Sideways Trend for a Potential Long Position

Technical Structure and Entry Rationale

The USD/JPY pair is currently trading at 149.37, experiencing a relatively flat 24-hour change of -0.09%. The market has been exhibiting a distinct sideways trend, with the day's range confined between immediate support at 149.17 and resistance at 149.57.
My analysis identifies a potential long opportunity within this consolidation phase. The structure is clear: while the pair is