USD/JPY triple bottom at HFT buy zone
|We are analyzing the USDJPY currency this Friday morning and find that HFT algorithms are showing that buy trades could prove successful in today's trading session.
For instance, a few hours ago USDJPY reached the light HFT buying pressure zone that is found at 104.17 and below. The price rebounded soon after that, and USDJPY is now moving higher.
At the same time, this morning's bounce represents the third such occurrence on USDJPY over the past 2-3 days, forming a triple bottom pattern. The advanced FxTR Divergence indicator also signaled a buy trade by identifying bullish divergence at the lows of the day.
To the upside, Fx traders may aim for the light HFT selling pressure zone, which is today noted at 104.88 and above.
USD/JPY Current Trading Positions
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