EUR/JPY: Swing Long Setup from Key Support Levels

Technical Rationale for a EUR/JPY Long

Alright team, let's zero in on EUR/JPY. Currently trading around 162.05, this pair has been moving in a relatively sideways fashion within its daily range of 161.81 to 162.28. While the broader trend is sideways, I'm identifying a strong swing long setup here. My entry is set at 162, which positions us strategically just above the critical intraday support level of 161.81. This level has held firm, demonstrating buyer interest on previous tests.
My analysis suggests that a bounce from this area presents a favorable entry. The Stop Loss is placed firmly at 161.6. This level sits clearly below the 161.81 support, and a break below it would invalidate