The crystal clear convergence between price, volume and other indicators keeps the ongoing bearish trend even more healthier on charts with all time frames. Especially volume build ups have been mammoth on this downturn that will intensify the momentum in bearish swings.

Although the price curve attempts to bounce bears are keen on trimming gains, as a result bearish resembling gravestone doji and shooting star candle patterns have popped up at 82.822 and 80.681 in between this downward journey.

Monthly RSI has consistently been converging downwards even below oversold territory, currently RSI trending at 14.2521 level while articulating.

Slow stochastic is also stating more selling pressures as we observe %D line crossover still maintains even below 20 levels on monthly terms that signals selling pressure to prolong.

We think, robust volume build ups in JPY longs and CAD shorts (see grey shaded areas) fortifies bearish trends momentum.

The prevailing prices have slid way below 21DMA (both on monthly and daily charts) that signifies the current price drops would drag further to find strong support zone at around 78.078 levels if at all it has to bounce back again.

It is not always go long or short that makes you more money, market wouldn't necessarily need to behave according to our whim fancies. Wait and watch out for rallies would be the best deal for today to tackle this pair with its bearish business.

So the trade recommendation for the day is that use rallies to buy ATM 0.51 delta puts for targets at 78.900.