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We are analyzing the activity of high frequency trading algorithms this morning and find that the EURJPY pair could offer potential trade opportunities from the short side.
EURJPY now reached the light HFT selling pressure zone that is located at 132.96 and above. Sellers entered the market here and pushed down on the attempt to break higher.
No distinct reversal signals have occurred yet, however. Until one does, there is the possibility that EURJPY continues further up.
The light HFT buying pressure zone is located today at 132.5 and below.
Don't Miss: Stay On Top Of The Game By Reading Our Weekly Forex Forecast Of EUR/USD, GBP/USD, USD/JPY (Fundamentals + Technicals)
