Breakout Identified in GBPJPY

Breakout Identified in GBPJPY for FX:GBPJPY by FXCM

Breakout Identified in GBPJPY



Signal ID: 73470
Time Issued: Wednesday, 30 September 2020 03:39:15 GMT
Status: open
Entry: 135.27 – 135.684
Limit: 134.455
Stop Loss: 136.115

The Breakout Opportunities system has just sold GBPJPY at 135.541. The system recommends entering this trade at any price between 135.27 and 135.684. The signal was issued because the GBPJPY has broken its 24-hour low while our Speculative Sentiment Index was at 3.548, suggesting that the GBPJPY may have further to fall. A stop loss has been set at the 24-hour high of 136.115 and a profit target has been set at the 1 Day ATR level at 134.455. 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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