This morning's analysis of HFT algorithms in the Fx market shows that the powerful bearish momentum is keeping the GBPJPY downtrend intact.
GBPJPY is in a steady decline over the past 2-3 trading days, as part of the larger downtrend that has unfolded in the past two weeks.
The light HFT buying pressure zone is coming into focus for today's session that may be reached later today. It is located at 150.77 and below, and some bulls may expect a reaction there.
However, given the bearish momentum, it's possible that GBPJPY may continue to move lower. The next HFT zone in today's session is the medium HFT buy area, noted at 148.021 and below.
To the upside, the light HFT selling pressure zone is located today at 153.52 and above.