EUR/JPY Intraday Short: Fading Resistance at 163.00 Amidst Bullish Trend

Technical Setup & Intraday Reversal Potential

Good morning, traders. My focus today is on EUR/JPY, currently trading around 162.73. While the overall trend for EUR/JPY remains bullish, as evidenced by its 0.33% gain over the last 24 hours and its strong upward trajectory, I'm identifying a potential intraday opportunity for a short position. The pair is approaching a significant resistance area around 163.52, which also marks the current daily high. My technical analysis suggests that a retest of the 163.00 psychological level, just shy of this resistance, could present a "high probability zone" for an intraday pullback.
My entry for this setup is at 163.00. This level sits strategically just below the day's high