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This morning's analysis of Forex high frequency trading algorithms shows that the USDJPY is trading at the light HFT selling pressure zone, located at 124.1 and above.
This is the second attempt on the HFT sell zone in the current trading session, the first one already being rejected during overnight Asia.
The light HFT buying pressure zone is located today at 123.57 and below. It would come into focus if USDJPY tops out and starts to decline here.
In case of an extension higher, traders will watch the medium HFT selling pressure zone at 124.64 and above.
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