USD/JPY reached the HFT selling zone!
|We are analyzing the activity of HFT algorithms today and have noticed that the USDJPY currency pair has reached the light HFT selling pressure zone that is noted at 110.62 and above.
The price has already started to react after entering the light HFT selling pressure zone and there are some bearish patterns forming on the 1-hour USDJPY timeframe.
We can also see that the pair is trading inside of a rising channel (as shown on the chart below) and a bearish breakout of this channel could just be the trigger for a larger move down.
The Master MACD indicator just now shifted to bearish but the FxTR CCI is still showing the trend as bullish.
In this potential bearish scenario, once/if a bearish breakout of the channel occurs, USDJPY can move lower toward the light HFT buying pressure zone that is today noted at 110.32 and below.
USDJPY Current Trading Positions
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.