USD/JPY: Navigating the Sideways Trend for Potential Upside

Technical Posture and Entry Rationale

The USD/JPY pair is currently exhibiting a sideways trend, trading at 149.32. Over the past 24 hours, we've observed a minor retreat of -0.12%, with the price oscillating within a daily range of 149.04 to 149.59. My analysis indicates that the immediate support at 149.04 has held firm, suggesting underlying buying interest at lower levels within this range. The immediate resistance lies at 149.59.
For this swing trade setup, I am looking to initiate a long position at 149.2. This entry point is strategically chosen, positioning us above the daily low of 149.04, anticipating a rebound from this established