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We are analyzing the activity of HFT algorithms this morning and note that the USDJPY pair is advancing higher after reversing earlier in the session.
Namely, the reversal occurred inside of the light HFT buying pressure zone that is today located at 103.53 and below. The price reached the HFT buy zone during the Asian session and reversed as soon as it touched the area.
With USDJPY moving higher now in the European morning, many Fx traders will be looking to join the move. A distinct target to the upside can be found inside the light HFT selling pressure zone that stands at 104.15 and above.
Don't Miss: Stay On Top Of The Game By Reading Our Weekly Forex Forecast Of EUR/USD, GBP/USD, USD/JPY (Fundamentals + Technicals)
