Breakout Identified in GBPJPY
The Breakout Opportunities system has just sold GBPJPY at 137.08. The system recommends entering this trade at any price between 136.805 and 137.731. The signal was issued because the GBPJPY has broken its 24-hour low while our Speculative Sentiment Index was at 1.933, suggesting that the GBPJPY may have further to fall. A stop loss has been set at the 24-hour high of 139.684 and a profit target has been set at the 1 Day ATR level at 135.979. 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.
Signal ID: 73248
Time Issued: Wednesday, 09 September 2020 06:17:15 GMT
Entry: 136.805 – 137.731
Stop Loss: 139.618
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients’ best interests and represent their views without misleading, deceiving, or otherwise impairing the clients’ ability to make informed investment decisions. For more information about the FXCM’s internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms’ Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed here.
Past Performance is not an indicator of future results.