FX Trading Revolution Team
FX Trading Revolution
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.
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