This morning, the analysis of high-frequency trading algorithms reveals that the USDJPY currency pair could be an attractive buy in today's trading session.
USDJPY has already reached the light HFT buying pressure zone that is noted at 107.43 and below. The price reacted strongly here, and a bounce occurred soon after entering the HFT area.
At the same time, the bounce formed a double bottom pattern as the Wednesday low is also in this same 107.35 price zone. Bullish signals on technical indicators would further help to confirm a buy signal here.
Forex traders will have their focus on the light HFT selling pressure zone as a target to the upside. The light HFT selling pressure zone is noted today at 107.81 and above.
USD/JPY Current Trading Positions
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