Daily HFT Trade Setup – HFT Algorithms Start Selling USDJPY
The analysis of high-frequency algorithms' activity on the USDJPY pair today shows that sellers are entering the market here and have taken the price off the highs.
Namely, USDJPY reached the light HFT selling pressure zone, which is located today at 103.77 and above. The price reacted as soon as the zone was reached, and a bearish engulfing candlestick pattern was formed on the 1-hour USDJPY chart.
USDJPY bears may look to the light HFT buying pressure zone — noted today at 103.5 below — for potential profit targets on the downside.
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