USD/JPY Rejected at HFT Sell Zone!
|We are analyzing the activity of HFT algorithms on the USDJPY currency pair this morning and note that interesting trading opportunities to sell may exist here in today's trading session.
USDJPY has already reached the light HFT selling pressure zone today which is noted at 106.57 and above. The price reacted strongly here and the bullish attempt was quickly and powerfully rejected as soon as the price entered the light HFT selling pressure zone.
The 106.75 price zone where the bullish attempt was rejected, is also a strong intraday resistance area due to the prior pivotal highs here. So, the rejection of the bullish attempt confirms both the light HFT selling pressure zone and this strong resistance here.
USDJPY bears will target the light HFT buying pressure zone to the downside, which is today noted at 105.45 and below.
USDJPY Current Trading Positions
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