EURJPY - Trend break! Watch for the Kumo and range bottom!

FX:EURJPY   Euro Fx/Japanese Yen
309 0 4
Probably this is one of the most important charts, which shows the EUR bull is coming to its end.

Yesterday Px             broke the primer trend line and dipped back into the Kumo. Tenkan/Kijun cross is bearish , and Chikou Span is below price. Defenately what we have to watch for is the Kumo bottom. If it breaks through, price will drop very quickly towards 136, or maybe even to second target of 131,50.

Looking at recent low implied volatility , I think the best strategy is to buy 1 month Put option at 139,50 strike.
With outright selling I would wait for more confirming bearish sognals, or maybe would sell some on a spike above 141.

I very rarely trade EURJPY             , but now I started to like this trade idea not just because of promising technical factors. The other reason is that if we see any general equity risk off within next one month, the JPY will perform very well as usual. So for those who are naturaly bearish on global risk, this trade can be a very good alternative.
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