USD/JPY Turns Down At HFT Sell Zone!
|Analysis of the USDJPY currency pair and the activity of HFT trading algorithms on this cross shows that good bearish trading opportunities could exist here today.
USDJPY has already entered the light HFT selling pressure zone in today's trading session where the bullish attempt was quickly rejected. The light HFT selling pressure zone is noted at 106.55 and above, and USDJPY is now falling down from here.
The Master MACD and the improved CCI, the advanced trend indicators developed by the Team Fx Trading Revolution, are also showing signals of a change in trend on the 1-hour timeframe. For instance, the Master MACD has turned neutral (gray) from bullish and the CCI is now red (bearish).
Classic technical analysis of the support and resistance levels shows us that there is no support untill yesterday's lows around the 106.20 level. This level will certainly be targeted by the bears today as well as the light HFT buying pressure zone that is noted at 106.02 and below.
USDJPY Current Trading Positions
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