Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
USDJPY is overall bullish from a long-term perspective trading inside the brown channel. However it is approaching the upper brown trendline acting as an over-bought zone.
Moreover, the zone 147 - 150 is a strong supply zone .
So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the green supply zone and upper brown trendline. (acting as non-horizontal resistance)
As per my trading style: Since USDJPY is around the purple circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly! ~Rich