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The activity of high frequency trading algorithms this morning shows that the USDJPY pair has reached the light HFT buying pressure zone, which is located today at 130.93 and below.
The price action has already reacted here, and USDJPY has paused the downtrend for now. However, the trend is clearly bearish here on the hourly chart. That means Fx traders will probably not rush to look for bullish reversal entries.
To the upside, the light HFT selling pressure zone is located at 132.92 and above.
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