EURJPY 4H — Bearish BC Reload, Unreached C Still in FocusEUR/JPYOANDA:EURJPYSmellyTazEURJPY still looks structurally bearish here. The bigger clue is the rejection from the higher red BC zone. That area already did its job: price traded into supply, failed to continue higher, and rolled over. From that rejection, the market printed a clean bearish ABC sequence, with B confirmed and C still unreached below. Now price is retracing into a smaller bearish BC pocket around the current market. That matters, because this bounce does not look like strength to me. It looks like a refill. A pause. A little liquidity snack before another leg down. So the way I read this chart is simple: The larger bearish structure remains in control, and the current pullback is testing a continuation zone rather than building a real bullish reversal. As long as price stays accepted below the recent swing high / B area, the path of least resistance remains lower. My read Higher-timeframe red BC already triggered a bearish reaction Orange bearish ABC is active and its C target is still open Current price is sitting inside a fresh bearish BC retracement That creates stacked bearish structure, which is where things get interesting What I’m watching A rejection from this local BC would strengthen the bearish continuation idea and keep price rotating toward the orange C target zone first. If momentum expands and sellers stay in control, then the market could keep pressing lower toward the broader red target zone after that. Levels that matter Bearish continuation zone: current local BC Main bearish objective: orange C target below Extended objective: deeper red target zone Invalidation: a clean reclaim above the recent B / supply structure would weaken this setup badly This is one of those charts where the market is basically whispering, then shouting: the downside target is still unfinished business. Not financial advice.