EUR/JPY Entering HFT Sell Zone!
|The analysis of activity on HFT algorithms in the currency market today shows us that the EURJPY currency pair is entering the light HFT selling pressure zone that is noted at 118.22 and above and therefore could provide short trading opportunities in the day-trading session ahead.
The pair bottomed at the 117.70 support zone on the previous day-trading session and has since rallied to 118.50 today where it was rejected at this resistance zone - inside of the light HFT selling pressure zone.
Trend indicators like the Master MACD and the Improved CCI, developed by the Team Fx Trading Revolution, are showing the trend on the 1-hour timeframe to be bullish at the moment, so no sell signals have appeared on the charts yet.
However, the probabilities are increasing for that to happen as EURJPY is climbing higher and enters deeper into the HFT zones. If it continues higher, the pair could also potentially reach the medium HFT selling pressure zone which is noted at 118.806 and above.
To the downside, the light HFT buying pressure zone that is noted at 117.63 and below will be an interesting target area for the bears.
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