Daily HFT Trade Setup – USDJPY Starts Falling After Reversal at HFT Sell Zone
The activity of high-frequency Fx trading algorithms during today's session shows that the USDJPY pair has the potential to continue moving down. This can prove as a solid opportunity to short the pair and potentially score a profit on the move down.
USDJPY reached the light HFT selling pressure zone, which is standing at 108.94 and above. The bullish move was stopped on the second attempt, and USDJPY is falling since then. The pair now made a lower low on the hourly chart, an indication that a new trend may have been established here.
To the downside, the light HFT buying pressure zone is located at 108.59 and below. The bears will look at this area as a potential target zone, but also, it's the place where USDJPY is likely to stop or reverse the decline.
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