Daily HFT Trade Setup – CADJPY Moving Down to HFT Buying Zone
Today's analysis of high frequency trading algorithms in the Fx market shows that the CADJPY currency pair is moving closer toward the light HFT buying pressure zone, which is located at 89.38 and below.
Bullish pressures are likely to increase in the HFT area as buyers will be attracted to enter positions. The 1-hour chart also shows that the recent trend in CADJPY is a strong uptrend, which could act as a tailwind for potential bullish setups. In this sense, traders will certainly be more inclined to look for bullish trades than bearish in the current trend environment on CADJPY.
To the upside, the light HFT selling pressure zone is located at 90.25 and above.
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