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High-frequency Fx trading algorithms' activity today shows that the EURJPY currency pair is rising and has now entered the light HFT selling pressure zone that is found at 132.43 and above.
Representing an area where bearish forces are likely to get stronger, the HFT sell zone could be the place where EURJPY reverses in today's session.
The bears will be looking at prior lows to the downside for targets. Notable are the 131.90 lows from yesterday, and then the light HFT buying pressure zone will come into focus, which is located today at 131.69 and below.
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