USD/JPY Ranging Between HFT Buying and Selling Zones!
|Analysis of the activity of HFT algorithms in the Forex market today indicates range-trading behavior on the USDJPY currency pair. Hence range-trading strategies may provide good trades in such an environment in today's quiet market session.
USDJPY has already reached the light HFT selling pressure zone today which is noted at 111.98 and above. The price action reacted well here and the bullish attempt was rejected at this light HFT selling pressure zone.
The light HFT buying pressure zone is today noted at 111.87 and below. Any bearish attempts are likely to meet strong buying pressure once/if this area is reached.
The Master MACD and the FxTR trend indicators are showing frequent changes in their trend readings - confirming a sideways market. Hence, many Forex traders will be looking to buy and sell at the extremes today, looking for small profits using range-trading strategies.
USDJPY Current Trading Positions
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