The analysis of high frequency trading algorithms in the Fx market today shows that the two-way action in USDJPY has the pair reaching both of the nearest HFT zones, i.e., the light HFT buy and sell zones.
The pair was gradually rising in the early Asian session and reached the light HFT selling pressure zone that is located at 114.51 and above. The price quickly reversed there and plunged down even faster during the European morning.
The fall led to USDJPY reaching the light HFT buying pressure zone, which is located today at 113.9 and below. Can USDJPY reverse again at the HFT zone today? If so, then perhaps a rally from here will follow...
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