From last two days, the pair has been testing 7MA as resistance and drifting southwards along with the channel baseline. So, after these steep slumps, if you are expecting reversal upswings then you are likely to get bull trapped if you are initiating longs for longer terms as we see no trace of buying interest in the FX market.

As it has broken supports at around 111.860 levels and greater moving average curve crossing over lesser moving average on intraday chart indicates no dramatic escapes from the more slumps going forward.

Those who are looking for long term basis predictions, 21DMA has just crossed over 7DMA on weekly time frame which is still a sell signal, so prevail declining movements may drag further.

No harm in selling momentum as leading oscillating indicators converge the ongoing slumps:

RSI: Currently, RSI (14) trending near 32.8491 levels converging downwards to these price dips to signify the intensifying selling momentum, same has been the case on monthly charts.

Stochastic: It has entered in oversold territory with clear %D crossover to signal bears are in absolute control (current %D line flashes at 12.7170).

Binary options offer you make money irrespective of the swings:

We could foresee more downside risks further, one doesn't need to be panicky even though any abrupt upswings (no dramatic bounces expected in near future, certainly not beyond 112.391 and on flip side with greater probabilities 111.323 is on the table, see blue lines for range).

Well, we reckon the binary options are suited trading idea to extract maximum leverage, to be more precise "boundary binaries" if you are so skeptic about price rise, range-bound markets can be utilized.

Lets visualize with spot FX 113.733 a trader chooses an ATM binary put of USDJPY, the half an hour expiry, and two strike levels: the first strike level is lower than the current underlying value and the second strike level is higher than the current underlying value (price curve evidences the lower lows but these fluctuations remain between these levels).