EUR/JPY Intraday: Shorting the Range Top with Precision

Market Structure & Technical Outlook for EUR/JPY

Good morning, traders. Looking at EUR/JPY, the pair is currently trading at 162.34, holding within a tight range. The 24-hour change of just 0.09% clearly indicates a sideways trend, which is precisely what the chart is showing us. We've seen price confined between the immediate support at 162.13 and resistance at 162.56 today. This intraday range is relatively narrow, signaling a period of consolidation. My analysis focuses on these immediate technical boundaries, as they provide clear zones for potential reactions. The broader picture also confirms this lack of directional conviction, with significant support at 155 and 150, and resistance at 165