Possible yes.
Practical no, unless you are an excellent automotive electrical technician. Just being able to do things like change fuses, light bulbs, and major assemblies like starters, alternators and electric motors is not a sufficient level of expertise. This is not a bolt on and go deal. Very few, if any, of the 95 Explorer electrical and computer connectors are going to mate and match the circuits present in the 83 T-Bird.
There are a lot of things that need to be moved, added, spliced and changed. If you get stuck with a problem, there may not be anyone who has successfully swapped 95 Explorer EFI into an 83 T-Bird.who can help you.
You would need the Explorer V8 wiring diagram and the 83 T-Bird wiring diagram and lay them out side by side. Then you get to figure out how to make the old CFI computer power wiring mate up with the Explorer computer power input.
Next comes the fuel pump & plumbing. The Mustang EFI fuel system use a high pressure pump with a return line from the regulator to the tank. You are going to have to change the tank mounted fuel pump and modify the pump wiring. The return line to the fuel tank may or may not be present - I don't know. The parts list for the 83 T-Bird shows two fuel pumps, one in the tank (low pressure) and another externally mounted in the fuel line (high pressure). The low pressure pump in the tank needs to be replaced with the Mustang EFI high pressure pump. Then the T-Bird inline high pressure pump needs to be removed and the fuel line spliced with a length of tubing and suitable fittings. Sloppy work here can burn up the car and you with it.