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The analysis of high-frequency trading algorithms in today's Forex session shows that the USDJPY pair may be the place to look for buying opportunities.
USDJPY reached the light HFT buying pressure zone earlier, which is located 103.33 and below. The price reaction was quick there, and the attempt was reversed as soon as the HFT zone was briefly touched.
The bullish engulfing candle on the hourly chart, as well as the bullish divergence as identified by the advanced FxTR divergence indicator, suggest that a bullish move today is possible.
To the topside, the light HFT selling pressure zone is standing today at 103.81 and above, which, if reached later today, should attract sellers.
Don't Miss: Stay On Top Of The Game By Reading Our Weekly Forex Forecast Of EUR/USD, GBP/USD, USD/JPY (Fundamentals + Technicals)
