EUR/JPY: Sideways Consolidation Points to Intraday Short Opportunity Below Key Resistance

Technical Read: Rejection at Upper Bounds

Looking at EUR/JPY, the market is clearly in a sideways consolidation phase, bouncing between recent significant levels. The current price of 161.75 is sitting comfortably within the Day Range of 161.07 to 162.43. What I'm observing is a lack of sustained buying interest as we approach the upper end of this range. The 24-hour change of -0.45 (-0.28%) reinforces this gentle downward drift within the consolidation.
My analysis indicates that the 162.43 level is acting as solid immediate resistance. While not an extreme move, the market is showing signs of rejection from the higher end of its recent trading envelope. For an intraday play, I'm looking for a retest and failure around the 162 handle