EUR/JPY consolidating between HFT buy and sell zones
|We are analyzing the activity of high-frequency trading algorithms this morning and note that the EURJPY pair is consolidating sideways after the solid uptrend last week.
EURJPY is currently moving between the light HFT selling and the light HFT buying pressure zones. The zones are noted for today at the following levels:
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light HFT selling pressure zone at 125.32 and above.
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light HFT buying pressure zone at 123.95 and below.
Fx traders will be looking to establish buy or sell positions if the price reaches one of the zones. The previous uptrend suggests long trades have a better probability of success compared to sell reversal trades.
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