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We are analyzing the activity of HFT algorithms this morning and note that the EURJPY pair could offer interesting trading opportunities in what is a volatile session today.
Namely, EURJPY is affected today by two big central banks, both the BOJ and ECB holding meetings. So, it's likely we'll see more two-way price swings in EURJPY today later in the session.
This morning, EURJPY reached the light HFT selling pressure zone that is located at 0.9924 and above. The attempt was rejected strongly there, and the pair is now headed lower.
The bears will look at the light HFT buying pressure zone as a target area, which is located at 0.9857 and below.
Don't Miss: Stay on top of the game by reading our Weekly Forex Forecast of EUR/USD, GBP/USD, USD/JPY (Fundamentals + Technicals)
