EUR/JPY Rejection at HFT Selling Zone!

FX Trading Revolution Team FX Trading Revolution

Analysis of the trading activity of HFT algorithms in the Forex market this morning shows that bearish trading opportunities could be provided today on the EURJPY currency pair.

The price has just reached the light HFT selling pressure zone that is noted at 124.82 and above. The strong rejection of the bullish attempt here suggests there are strong selling pressures here which could drive EURJPY even lower today.

Trend indicators have started to show a change in trend too, with the Master MACD turning neutral and the FxTR CCI indicator now indicating a bearish trend.

If the bearish scenario unfolds as anticipated then the light HFT buying pressure zone which is noted at 124.14 and below will be probably reached today.

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