USD/JPY: Shorting the 150 Threshold Amidst Sideways Consolidation and Intervention Risk

Merhaba KoraFX topluluğu! Defne Dogan here, bringing you my latest trade idea for USD/JPY. The pair is currently trading at 149.78, having seen a slight uptick of 0.19% over the last 24 hours, but the bigger picture suggests a cautious approach around current levels. While the trend is broadly sideways, I see an opportunity to go short.

Unpacking the Technical Picture: Resistance at Play

Let me walk you through my analysis, starting with the technicals. The current price of 149.78 is hovering very close to a critical resistance level at 150.2, which also marks the upper bound of our day range (149.36 – 150.2). More importantly, the psychological barrier of 150.00 is a significant hurdle that the pair has struggled to decisively break and hold above in recent times. My entry for this short position is set at 150.00, targeting a move down from this