Absolutely. There's almost no underhood differences between '95 and '96. That engine will be a straight drop-in.
Did I say drop-in? I meant lift-in!
I've seen quite a few motor or transmission repairs on 2nd Gen. Continentals and I'm telling you true, the only conceivable way to re& re that engine is to drop the subframe with the motor and transmission still on it, split them apart on the ground (Ford Dealerships have a specially designed stand/dolly to hold this while we work on it), and then lift it all back in and complete all hose and wiring hookups.
Good luck!