Daily HFT Trade Setup – USDJPY Consolidating Sideways Between the Nearest HFT Zones

 
 
 
 
 
 
 

Today's analysis of high-frequency trading algorithms in the Fx market shows that the USDJPY pair is stuck in a sideways consolidation for the last couple of sessions.

The consolidation is already playing out in the area between the two nearest HFT zones for the current day-trading session. Those are:

  • the light HFT buying pressure zone is located today at 110.31 and below.
  • the light HFT selling pressure zone is seen today at 111.00 and above

Forex traders will be looking for shorting opportunities on reversal patterns in the light HFT selling pressure zone, or for bullish setups in the light HFT buying pressure zone.

Don't Miss: Stay On Top Of The Game By Reading Our Weekly Forex Forecast Of EUR/USD, GBP/USD, USD/JPY (Fundamentals + Technicals)