We are analyzing the activity of HFT algorithms in the Fx market this morning and note that the EURJPY pair has reached the light HFT selling pressure zone is located today at 129.69 and above.
The bullish attempt was stopped here and EURJPY stalled but trying to test higher ground. Whether the bulls will manage to move higher or not remains to be seen.
At the same time, the bears will be looking for bearish setups that could take EURJPY back lower. The daily lows around 129.20 would be the first target to the downside in this scenario.
The light HFT buying pressure zone is located at 128.8 and below for today's trading session.
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