Of course you can use the ▲ (up) and ▼ (down) keys to navigation through the last executed commands, but there are way more comfortable ways to search through your console history.
Search through last commands:
$ CTRL + r # Reverse search
Show all console commands with the search term in it as a list:
$ history | grep "your search"
And to jump within one command:
$ CTRL + a # To the beginning of the line $ CTRL + e # To the end of the line