USD/JPY: Targeting a Swing Short as Resistance Holds Firm Amidst Sideways Drift

Good morning KoraFX community. My focus today is on USD/JPY, which currently trades around 149.75. The pair has shown a rather sideways consolidation recently, navigating within its day range of 149.37 to 150.13. Despite the small 0.17% gain over the last 24 hours, I see a compelling technical setup emerging for a potential swing short opportunity.

Technical Analysis & Trade Setup

From a technical perspective, the pair continues to face significant resistance as it approaches the 150.13 level. While the trend is broadly sideways, this immediate resistance has proven robust. My analysis suggests that sellers could step in again around these highs. We are looking for a rejection here, not necessarily a full trend reversal, but a tactical pullback.
My trade setup is as follows: I intend to initiate a short position at 149.9. This entry point allows us to capitalize on a potential rejection near the immediate resistance without chasing the very peak. My Stop Loss will be placed at 150.5. This level is crucial; a break above 150.13, and subsequently 150.5, would invalidate my bearish thesis for this