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The analysis of high-frequency trading algorithms shows that the USDJPY may shortly reach levels that will attract more sellers into this market.
Namely, USDJPY has been ascending in recent days, but the rally has slowed since the start of the current daily session in the Asian morning. USDJPY now stands close to the light HFT selling pressure zone that is located at 104.15 and above.
The light HFT buying pressure zone is standing at 103.15 and below. Traders may want to use it as a potential target for short positions if USDJPY starts to move down from here.
