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Yen Storm Hits EURJPY: Crashes Below 181 – Sell the Bounce Intraday! Target 179.50 with Tight Stop Above 181.45 
Has this pair been acting as per whim fancy? Well, you would understand if you compare our previous articles on technicals and recommendations accordingly with the current trend.
Please follow below link for previous write up:
During abrupt rallies of AUDJPY as stated in our previous write up, the interim bulls seem to have given up and bears have been alert to pull back at the strong resistance of 80.595 on daily charts that is where a hanging man pattern candle is occurred at 79.917 levels.
Thereby, the trend resumes back again in sideways (see rectangular areas).
For now, the weakness is back again to signify long term bear trend continuation.
Daily leading oscillators have been indecisive but there is an attempt of 7DMA crossing below 21DMA that could bring in bearish swings.
However, leading oscillators on the monthly chart, showing convergence with the prevailing dips; we believe this as bears are getting active again. RSI is currently trending below 40 that has stimulated the momentum the major trend.
In addition to that, stochastic curves boiling up selling up even below 20 that is an oversold territory and there is no clear bullish crossover.
MACD is also substantiating the ongoing declining trend.
Trade tips: Option Tunnel Spread
On intraday terms, we reckon that the smart way to approach this pair is to deploy the option tunnel using ATM puts is structured as a binary version of a conventional put spread, i.e. long delta puts with higher strikes while writing the lower strikes for above-mentioned targets on either side.
Therefore, an In-The-Money tunnel would be formed of an In-the-money -0.74 delta put below the current exchange rate less an Out-Of-The-Money put above the exchange rate. The delta of -0.56 on combined position with slightly negative theta is preferred on this execution.
