We are analyzing the activity of HFT algorithms in the Forex market this morning and have noticed that the USDJPY currency pair may provide interesting bullish trading opportunities in the day-trading session ahead.
The pair has already reached the light HFT buying pressure zone which is today noted at 107.18 and below.
The price pushed further to the downside and also reached the medium HFT buying pressure zone that is noted at 106.891 and below. The bearish attempt got rejected there and we are now seeing a solid potential for USDJPY to complete a bullish reversal from current levels.
The 107.25 price zone, as the nearest resistance would be the first destination in a bullish scenario. If momentum is strong, USDJPY could push toward the light HFT selling pressure zone as well which is today noted at 107.46 and above.
USDPY Current Trading Positions
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