Daily HFT Trade Setup – USDJPY Tests & Comes Off HFT Selling Zone
The analysis of high frequency trading algorithms' activity today shows that the USDJPY pair is testing the light HFT selling pressure zone, which is noted today at 115.31 and above.
The price reached this HFT sell zone early in the European morning and has since reversed and backed off it, now trading outside of the HFT zone.
USDJPY bears may be willing to add some short positions at this stage, particularly as some indicators on the 1-hour timeframe are also showing bearish signals. For instance, the advanced FxTR Master MACD indicator on the hourly USDJPY chart has now turned red (bearish).
The light HFT buying pressure zone for today's session is located at 114.84 and below.
Don't Miss: Stay on top of the game by reading our Weekly Forex Forecast of EUR/USD, GBP/USD, USD/JPY (Fundamentals + Technicals)