Daily HFT Trade Setup – USDJPY Stops the Climb at HFT Selling Pressure Zone

 
 
 
 
 
 
 

We are analyzing HFT algorithms this morning and find that the USDJPY pair could offer bearish trade setups in today's session.

Namely, USDJPY is advancing since the day's open in Asia, but seems to have hit a wall after reaching the light HFT selling pressure zone.

While no distinct bearish reversal signals have occurred here yet, the chances are higher in this area. The light HFT selling pressure zone is located at 110.05 and above.

As an additional factor in favor of bears here, the FxTR overbought/oversold indicator is also showing USDJPY is way into the overbought area at these levels on the hourly timeframe.

The light HFT buying pressure zone is located at 109.7 and below.