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We are analyzing the activity of Fx HFT algorithms this morning and note that the USDJPY pair is reacting at the light HFT selling pressure zone that is noted at 127.98 and above.
USDJPY quickly reached the HFT area early in the morning and is gradually declining following the high reached during the Asian session. The bears that are looking for downside continuation will watch technical levels and signals. One could be a break below the 127.50 round number, which is also a previous low.
The light HFT buying pressure zone is today located at 127.01 and below.
