EUR/JPY: Intraday Long Setup Targeting 164 Amidst Sideways Consolidation

Technical Snapshot & Intraday Strategy

Currently, EUR/JPY is trading around 162.54, having edged up 0.21% (0.34) over the last 24 hours. The pair has been consolidating within a defined day range of 162.03 to 163.05, signaling a clear sideways trend on the daily chart. My focus for an intraday play is a long position, anticipating a potential move higher from this consolidation phase.
The setup for a long entry is at 162.4.