Breakout Identified in GBPJPY

Breakout Identified in GBPJPY for FX:GBPJPY by FXCM

Breakout Identified in GBPJPY



Signal ID: 72830
Time Issued: Friday, 07 August 2020 03:09:15 GMT
Status: open
Entry: 138.142 – 138.624
Limit: 137.279
Stop Loss: 139.211

The Breakout Opportunities system has just sold GBPJPY at 138.429. The system recommends entering this trade at any price between 138.142 and 138.624. The signal was issued because the GBPJPY has broken its 24-hour low while our Speculative Sentiment Index was at 1.54, suggesting that the GBPJPY may have further to fall. A stop loss has been set at the 24-hour high of 139.211 and a profit target has been set at the 1 Day ATR level at 137.279. The system will move the stop to the next 24-hour high every time that 24-hour high is lower than the previous 24-hour high. Breakout Opportunities is a breakout strategy that aims to catch the significant moves that typically happen when currencies break through technical support or resistance.

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