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Today's analysis of high frequency trading algorithms in the Forex market shows that the GBPJPY cross has now reached the light HFT selling pressure zone, located at 155.19 and above.
The bullish attempt was rejected and turned down here. The 1-hour GBPJPY timeframe shows an evening star candle has formed as a bearish signal at this juncture on the chart.
The rejection also occurred at the resistance from the prior intraday lows, strengthening its significance here. Looking at other indicators, the hourly FxTR Master MACD has not turned bearish yet.
The light HFT buying pressure zone is found today at 154.66 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)
