We are analyzing the activity of HFT algorithms in the Forex market this morning and have noticed that interesting bearish trading opportunities may be created today on the AUDJPY currency pair.
The price has now reached the light HFT selling pressure zone that is noted at 75.85 and above. The bullish attempt already got rejected but AUDJPY is also trading inside of a bullish channel which for the moment is still intact.
Therefore, a definite bearish signal is not given for the moment yet, but if the rising trendline of the channel is broken, that will provide a stronger bearish reversal signal and AUDJPY may accelerate to the downside.
In this case, AUDJPY can fall to the light HFT buying pressure zone which is today noted at 75.33 and below.
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