USDJPY is currently supported by 124.5 and short term upward trend line. Hence, at current price level, both support lines form a confluence, giving it a greater possibility that price will move higher. At the same time, on 30mins chart, pin bar signal is also detected. Hence, i took a long at this level. One thing to be cautious is price has already reached FE 161.6, price may retrace.
However, shortly after trade was entered, it got stop out.