EUR/JPY: Intraday Long Opportunity as Bullish Trend Holds Strong

I'm eyeing EUR/JPY for an intraday long setup, building on the current bullish momentum. The pair is presently trading at 162.83, showing a solid 0.39% gain over the last 24 hours. The market has been respecting higher lows, confirming the overarching bullish trend. We saw the day range push up to 163.77 earlier, indicating clear intent from buyers.

Technical Analysis & Setup

My analysis points to a potential continuation of this move. I'm looking for a pullback to the 162.5 area for a high probability entry. This level aligns well with potential short-term support, and if confirmed, would present a favorable risk-reward scenario. My stop loss is strategically placed below the 161.89 intraday support, specifically at 161. This not only respects the immediate market