USD/JPY: Short Setup as Resistance Holds Firm

Technical Analysis: A Defined Range

The USD/JPY pair currently trades at 149.4, maintaining a largely sideways trend within a defined range. Observing the immediate price action, we see the pair hovering just below the key resistance level at 149.55. This level has effectively capped upside movement, as evidenced by the day range topping out precisely at 149.55. The market's inability to decisively break above this point, despite multiple attempts, suggests underlying selling pressure or a lack of conviction from buyers at these levels.
My analysis indicates a compelling opportunity for a short position. With an entry at the current price of 149.4, we are positioning ourselves strategically near the upper boundary of this immediate range. The immediate support level