We are analyzing the activity of high frequency trading algorithms today and note that the EURJPY pair may soon reach the light HFT selling pressure zone that is located at 130.41 and above.
Technical indicators are also signaling that potential trade setups from the short side may be provided here today. For instance, the advanced FxTR Divergence indicator (shown below) has turned red, signaling that bearish divergence exists on the 1-hour EURJPY timeframe.
To the downside, the light HFT buying pressure zone is located for this session at 129.91 and below.
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