EUR/JPY Sellers Take Control At HFT Selling Zone!

FX Trading Revolution Team FX Trading Revolution

We are analyzing the activity of HFT algorithms in the currency market this morning and note that the EURJPY currency pair may provide interesting opportunities from the short side.

EURJPY reached the light HFT selling pressure zone earlier today, noted at 120.47 and above. The bullish attempt was soon rejected the pair has started to move down.

Our advanced CCI trend indicator confirmed the change and turned bearish on the hourly timeframe. Addionatelly, the bearish reversal came at a point of overbought levels, as indicated by the highly accurate FxTR overbought/oversold indicator, plotted on the chart shown below.

EURJPY bears will target the light HFT buying pressure zone today, noted at 120.11 and below.

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