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We are analyzing HFT algorithms in the Forex market and note that the EURJPY pair may find a bid today as it has reached an interesting price area for buyers.
Namely, EURJPY is already trading well inside of the light HFT buying pressure zone is located today at 131.89 and below.
The HFT area is likely to attract further buying interest here, in addition to the prior lows here which are providing support (see chart). EURJPY is also oversold on the hourly chart at these low levels, as is indicated by our advanced FxTR overbought/oversold indicator.
The light HFT selling pressure zone is located today at 132.57 and above.
Don't Miss: Stay On Top Of The Game By Reading Our Weekly Forex Forecast Of EUR/USD, GBP/USD, USD/JPY (Fundamentals + Technicals)
