EUR/JPY Intraday Short: Testing Resistance in a Sideways Market

Current EUR/JPY Landscape

Olá, everyone! Taking a close look at EUR/JPY today. The pair is currently trading around 162.35, showing a slight gain of 0.09% over the past 24 hours. The overall trend remains sideways, with the price oscillating within a relatively tight Day Range of 162.12 to 162.58. This consolidation indicates a lack of strong directional conviction from the larger market participants, at least for now.
From a technical perspective, we're seeing the price approaching the upper boundary of this intraday range, specifically testing the immediate resistance at 162.58. This is a key level being tested right now, and how price reacts here will be crucial for the short-term direction. My analysis suggests that within this sideways environment, fades at resistance zones often present good intraday opportunities.

My Intraday Short Setup

Given the current price action and the overhead resistance, I'm looking at an intraday