Daily HFT Trade Setup – HFT Algorithms Selling Pushes GBPJPY Down Hard

High frequency trading algorithms are selling GBPJPY this morning, pushing the pair sharply lower on the day.

GBPJPY has so far blast through the nearest light HFT buying pressure zone that is located at 166.75 and below. It is now trading inside the medium HFT buying pressure zone that is noted today at 165.717 and below.

Given the strong bearish momentum, GBPJPY could push further lower and perhaps even reach the strong HFT buying pressure zone later today, which is located at 164.684 and below.

Earlier in the session, GBPJPY came close to but didn't reach the light HFT selling pressure. It is noted today at 167.78 and above.

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