USD/JPY Bulls Rejected At HFT Selling Zone!
|Analysis of the activity of HFT algorithms this morning shows that the USDJPY pair could offer good trading opportunities from the short side in the day-trading session ahead.
USDJPY has already reached the light HFT selling pressure zone that is noted at 108.36 and above for today. The bullish attempt was powerfully rejected as soon as the price touched this light HFT selling pressure zone and the FxTR Master MACD indicator turned neutral as a result.
However, a full shift of the trend has not occurred yet. That is also confirmed by the Improved FxTR CCI trend indicator which is still bullish on the hourly timeframe. The next point of confirmation for a bearish reversal could come with a downside breakout of the rising channel inside which USDJPY is currently trading, as seen from the chart below.
The bulls will target the light HFT buying pressure zone in a bullish scenario, which is noted at 107.65 and below.
USD/JPY Current Trading Positions
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