Currently, USD/JPY is trading inside a medium descending channel, with its boundaries acting as support and resistance lines. At the moment, the price has bounced off the resistance and is decreasing towards the lower boundary towards the support at around 143.51. The optimal strategy would be to wait for the pair to approach the designated level closely and then open a long position from there on the rebound. The resistance at 147.18 is holding back the rise. Therefore, until a breakout occurs, selling below this point will remain a priority, and upon a breakout, the rise will continue towards the upper channel boundary at 149.18, making a buy on the breakout equally effective.
