The analysis of the activity in the Fx market today shows that the AUDJPY pair could offer potential short setups as part of a continuation of its downtrend.
Namely, AUDJPY has been falling in recent days, and the predominant trend is clearly bearish. It is up today and has climbed to levels near the light HFT selling pressure zone is located at 79.9 and above.
The HFT sell area could be the place where this retracement reverses and AUDJPY starts to turn lower again. Sellers are likely to be waiting around this HFT zone, and coupled with the bearish trend could push AUDJPY for a new leg lower.
To the downisde, the light HFT buying pressure zone is located at 78.37 and below.