USDJPY Consolidating at 50 SMA, Nearing Trendline Going Back to 2012

As the daily chart below shows, USDJPY is consolidating at the 50 SMA, and is very close to the trendline going back to Q4 of 2012. If this pattern continues into next week, we might touch that trendline. That, I think, would constitute an interesting buying opportunity.

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I'm long USDJPY at around 118, a position I put on in the first half of 2015. I'm looking to add at the right level.

USDJPY Consolidating at 50 SMA, Nearing Trendline Going Back to 2012