USD/JPY Trading Plan: Resistance in Focus Before the Next Drop

Since the beginning of the year, USD/JPY has been in a bearish trend, with the price dropping from 159 to 151.

After reaching support around the 151 zone following Friday's NFP, the price started to reverse upward and is currently trading at 153.63.

In my view, this is just a correction of the initial leg down, and once resistance is reached, the price is likely to resume its downward trend.

The sell zone starts above 154 and extends to 155, where I will be looking for selling opportunities.

In the medium term, the price could drop to 146, with the first major support at the recent low of 151.

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