JPY is on a tear; HFT algos are selling EUR/JPY
|Today's analysis of high-frequency trading algorithms shows that the EURJPY pair has developed a fast downtrend on intraday timeframes.
The bears are in control here, and the price is now pushing on the light HFT buying pressure zone that is standing today at 104.22 and below. Trend indicators such as the FxTR advanced CCI and the Master MACD are confirming the strong momentum of the downtrend on this chart.
The next HFT zones to the downside that EURJPY may reach today are the medium and the strong HFT buying pressure zones. They are noted at 122.006 and below, and at 121.152 and below for today's trading session.
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.