Daily HFT Trade Setup – USDJPY Sideways Between HFT Buy & Sell Zones
HFT algorithms' activity in the Fx market today shows that the USDJPY pair is stuck in a sideways 30-pip range ahead of a busy calendar day with multiple market-moving reports and events.
The two nearest HFT zones where buying and selling interest may increase are noted at these levels for today:
- light HFT buying pressure zone located at 114.67 and below
- light HFT selling pressure zone located at 115.38 and above
Given that the preceding move is a strong uptrend, Fx traders will likely be more inclined to be bullish on the pair than the opposite. So, potential bullish setups around the light HFT buy zone are likely to work better than bearish ones at the selling HFT zone in this situation.
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