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The activity of HFT algorithms in the Fx market this morning indicates that the USDJPY pair may offer trading opportunities from the short side later in the day trading session.
USDJPY's ascent so far today has come near to the light HFT selling pressure zone, located at 136.29 and above. The price has not yet reached, but stronger selling pressures will likely emerge here if it does. Therefore, USDJPY bears will be looking for a reversal at the HFT sell zone and potential trade setups to enter short.
In a bearish scenario, the first support zone to the downside is at the 135.50 zone. The light HFT buying pressure zone is reported at 135.24 and below for today's session.
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