USD/JPY Stops At HFT Buying Zone!
|We are analyzing the USD/JPY currency pair this morning and the activity of HFT algorithms and note that attractive short-term trading opportunities from the buy-side could exist here.
The pair has reached the light HFT buying pressure zone that is noted at 108.38 and below. The price is reacting well here and we can see a nice bounce on the hourly chart, which also seems to be forming a bullish candle pattern. Technical indicators on intraday charts like this may help to confirm a potential buy signal here.
Day-traders who are looking to make a quick profit may benefit from the current situation on USD/JPY. The bulls will be aiming for the light HFT selling pressure zone, today noted at 108.76 and above.
USD/JPY Current Trading Positions
FX Trading Revolution - Your Revolutionary Forex Source
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.