Today's analysis of high-frequency trading algorithms shows that the EURJPY pair has developed a fast downtrend on intraday timeframes.
The bears are in control here, and the price is now pushing on the light HFT buying pressure zone that is standing today at 104.22 and below. Trend indicators such as the FxTR advanced CCI and the Master MACD are confirming the strong momentum of the downtrend on this chart.
The next HFT zones to the downside that EURJPY may reach today are the medium and the strong HFT buying pressure zones. They are noted at 122.006 and below, and at 121.152 and below for today's trading session.
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