EUR/JPY Bounced at HFT Buy Zone
|Analysis of the trading activity of HFT algorithms in the Forex market today shows that the EURJPY currency pair may offer interesting bullish trading opportunities in the New York trading session that is to get going soon.
The pair has already reached the light HFT buying pressure zone which is noted at 125.22 and below today. The price already reacted well here and bounced several times from the light HFT buying pressure zone.
The indicators are also showing the bearish forces have eased. Our Master MACD and CCI indicators have shifted the trend several times at the lows today which confirms that buyers have stepped into the market. Whether they will be able to overtake the selllers and drive EURJPY higher remains to be seen.
The light HFT selling pressure zone that is noted at 125.99 and above today will come into focus for determining profit targets if the bullish scenario plays out and EURJPY starts to move higher.
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