GBP/JPY starts explosive move from HFT buying zone!
|We are analyzing high-frequency algorithms' activity on the GBPJPY Fx pair today and note that an explosive bullish reversal is currently playing out.
A few hours ago, GBPJPY reached the light HFT buying pressure zone - noted at 131.98 and below - and the bearish attempt was stopped there. The bulls seem to be taking over control now, and GBPJPY is strongly pushing higher.
The FxTR advanced MaStoRSICCI indicator is also showing a bullish divergence signal (see chart below). Trend indicators are also showing a reversal here on the 1-hour timeframe.
To the upside, traders will be targetting the light HFT selling pressure zone, noted today at 133.04 and above.
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