FxWirePro: GBP/AUD bears maintain upper hand 
FxWirePro: USD/CNY dips to hit three year low,scope for further downside 
FxWirePro: NZD/USD consolidates overnight gains, but loses momentum 
FxWirePro: USD/CAD retreats after Canada posts stronger-than-expected GDP growth 
NZDJPY Bullish Rebound: Buy Dips as EMAs Align for 97 Target 
AUDJPY Volatile After Massive Sell-Off: Sell Rallies at 113, Targeting 110 as Bearish Momentum Surges 
FxWirePro: GBP/AUD drifts lower after BOE rate decision 
AUD/JPY Slips Below 112 as BOJ Intervention Sparks Bearish Momentum: Sell the Rallies 
FxWirePro- Woodies pivot (Major) 
US Magnificent 7 Stocks Trend Score: Amazon & Microsoft Hit Extreme Bullish (+100) as Meta Drops to -100 — Key Resistance & Support Watchlist 
FxWirePro- Woodies pivot (Major) 
FxWirePro: GBP/NZD remains weak, eyes 38.2%fib support 
FxWirePro- Major Crypto levels and bias summary 
US Magnificent 7 Stocks Trend Score: Amazon & Microsoft Hit Extreme Bullish (+100) as Meta Drops to -100 — Key Resistance & Support Watchlist 
FxWirePro: USD/ZAR gains as stronger dollar outweighs upbeat South Africa's trade surplus 
EURJPY bears have been gaining upper hand amid the highly volatile trading sessions of late. The pair has been plummeting from the highs of 122.875 levels to the recent lows of 116.119 level.
Please be noted that we had advocated shorts more than a month ago, refer below weblink for more details: https://www.econotimes.com/FxWirePro-EUR-JPY-Interim-Bulls-Pave-The-Way-For-Fresh-Shorts-In-Major-Downtrend--Technicals-Trading-Hedging-Setup-1574768
The minor trend of this pair has breached below wedge support (refer daily chart), ever since then the trend has been highly volatile as there has been stiff tug of war between bulls and bears in the range of 116.119 to 120.322 levels.
Amid this journey, bears managed to plummet the prices below 7, 21 & 100-DMAs to signify the bears’ upper hand. For now, more slumps appear to be likely as both leading (RSI & Stochastic curves) and lagging oscillators signal selling sentiments.
On a broader perspective, the major downtrend remains intact below EMAs (refer monthly plotting), downswings may resume at any time upon failure swings at the stiff resistance of 61.8% Fibonacci levels as both leading and lagging oscillators in tandem with bearish sentiments on this timeframe as well.
Trading and hedging tips:
On trading perspective, at spot reference: 118.758 levels, contemplating above technical rationale it is advisable to trade tunnel options spreads using upper strikes at 119.006 levels and lower strikes at 117.719 levels.
Alternatively, we advocated shorts in EURJPY futures contracts of mid-month tenors with a view to arresting potential dips, since further price dips are foreseen we would like to uphold the same strategy.
