Daily HFT Trade Setup - HFT algorithms buying EURJPY
|We are analyzing the activity of HFT algorithms in the Forex market today and have noticed that the trend on the pair is bullish.
EURJPY bounced at the support trendline this morning around the 132.35 level and is moving toward the light HFT selling pressure zone - noted at 133.09 and above. Trend and momentum indicators such as the FxTR Improved CCI, the Master MACD, and the FxTR RSI are confirming the bullish trend.
The light HFT buying pressure zone is noted at 131.92 and below, and will provide support if/when the price gets there. The 132.00 psychological level is also close - strengthening the support here.
Traders can look to join the trend close to the rising support trendline with a stop below the 132.35 low and targets toward the light HFT selling pressure zone.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.