Daily HFT Trade Setup – AUDJPY Twice Rejected at HFT Buy Zone
The analysis of the activity of Fx high frequency trading algorithms today shows that the AUDJPY pair has reached the light HFT buying pressure zone, which is located today at 80.91 and below.
The decline stopped there and AUDJPY bounced on the first rejection during the overnight session. Then, during the early European session, AUDJPY started falling again and reached the HFT buying zone for a second attempt. But, the bulls rejected this attempt too, and AUDJPY is now showing some bullish signs on the hourly chart here.
Is this the start of a new rebound higher?
If that's the case, traders will be firstly looking at the daily highs around 81.10 as the first local resistance and potential upside target. The light HFT selling pressure zone is located further higher, at 81.3 and above.