Daily HFT Trade Setup – EURJPY Tumbling Toward HFT Buying Pressure Zone
We are analyzing the activity of high high-frequency trading algorithms this morning and note that the EURJPY pair may soon reach the price zone where buy orders may exist.
Namely, EURJPY is falling this morning and is soon about to reach the light HFT buying pressure zone that is located at 128.27 and below. If enough buyers enter the market here, they could cause a stabilization and reversal of this trend, which could potentially give rise to trade setups in the other direction - bullish.
Forex traders may look to upside potential toward the light HFT selling pressure zone, which is located today at 129.23 and above.