USD/JPY Rejected At HFT Selling Zone!
|Analysis of the activity of HFT algorithms in the Forex market this morning shows that the USDJPY currency pair has the potential to provide interesting bearish trading opportunities.
The pair has already reached the light HFT selling pressure zone, noted today at 108.04 and above, and the bullish attempt was quickly rejected here.
USDJPY is now testing the 107.85 intraday support trendline, which if broken to the downside will confirm the bearish rejection at the light HFT selling pressure zone. This will provide a more convincing signal that USDJPY can continue lower today.
In the meantime, the Master MACD indicator is already showing signs of a change in trend dynamics as it has turned neutral from bullish. In a bearish scenario for today, USDJPY will be able to move toward the light HFT buying pressure zone which is today noted at 107.28 and below.
USDJPY Current Trading Positions
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