HFT Algorithms Buying USD/JPY!
|We are analyzing the activity of HFT algorithms in the Forex market and have noticed that the USDJPY currency pair has started to bottom out today after it reached the light HFT buying pressure zone, noted at 107.81 and below for today's trading session.
The price action started to show bullish signs inside of the light HFT buying pressure zone and the FxTR Master MACD indicator is now bullish also. The advanced overbought/oversold indicator which was developed by the Team Fx Trading Revolution is also confirming that a bullish move might be coming as this indicator is in the oversold area (line turned green).
Hence, under such a bullish scenario, USDJPY can move toward the light HFT selling pressure zone today which noted at 108.2 and above.
We also note that the 107.90 price zone may act as resistance on the way higher as a former support trendline stands near this level.
USD/JPY Current Trading Positions
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