This morning's analysis of high-frequency trading algorithms shows that the EURJPY currency pair could provide short trading setups later in the session.
Namely, EURJPY just reached the light HFT selling pressure zone, where the attempt got rejected as soon as it touched this zone. The light HFT selling pressure zone is located today at 129.3 and above.
EURJPY is already showing signs of extending a move lower after the rejection in the HFT sell zone. The Master MACD indicator has also switched bearish on the 1-hour timeframe and will stay that way if the current hourly candle closes at current levels or lower.
EURJPY bears may look for potential profit targets toward the light HFT buying pressure zone that is located at 128.41 and below.
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