GBP/JPY tests HFT buying zone
|The analysis of high-frequency trading algorithms this morning indicates that the GBPJPY pair may provide interesting trading opportunities from the long side.
For instance, GBPJPY reached the light HFT buying pressure zone - noted at 138.3 and below - and bounced there on the initial attempt. The advanced FxTR divergence indicator gave a bullish signal 3 bars ago, supporting the bounce to extend from here. The previous lows in this area should additionally provide support also.
Looking up, the light HFT selling pressure zone is found today at 139.17 and above.
FX Trading Revolution - Your Revolutionary Forex Source
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.