The analysis of HFT algorithms shows the USDJPY has likely entered consolidation mode following the wild price swings in yesterday's session on the outbreak of the Russia-Ukraine military conflict.
USDJPY is so far confined between the two light HFT zones, noted as follows:
- the light HFT selling pressure zone is located at 115.97 and above.
- the light HFT buying pressure zone is located at 114.69 and below.
Following the sharp recovery late yesterday from the earlier equality sharp sell-off, USDJPY seems capable of climbing higher today. This could mean it reaches the abovementioned the light HFT selling pressure zone.
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