Daily HFT Trade Setup – USDJPY Traders Look for Range-Trading Setups Between HFT Buy & Sell Zones
The activity of Fx HFT algorithms shows that the USDJPY pair may provide range-trading opportunities during today's session.
USDJPY is trading in a tight 25 pip range so far today, between the two light HFT pressure zones. These are located for today's session at the following price areas:
- light HFT selling pressure zone at 110.81 and above
- light HFT buying pressure zone at 110.43 and below
Fx traders will be looking for contrarian setups if one of the zones is reached. For the moment, however, most of the technical indicators on the hourly chart show neutral reading, reflecting the sideways trend.