GBP/JPY tests HFT buying zone

FX Trading Revolution Team FX Trading Revolution

The analysis of high-frequency trading algorithms this morning indicates that the GBPJPY pair may provide interesting trading opportunities from the long side.

For instance, GBPJPY reached the light HFT buying pressure zone - noted at 138.3 and below - and bounced there on the initial attempt. The advanced FxTR divergence indicator gave a bullish signal 3 bars ago, supporting the bounce to extend from here. The previous lows in this area should additionally provide support also.

Looking up, the light HFT selling pressure zone is found today at 139.17 and above.

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