Breakout Identified in GBPJPY

Breakout Identified in GBPJPY for FX:GBPJPY by FXCM

Breakout Identified in GBPJPY



SELL
135.887 – 136.543 Add to Watch List
Signal ID: 73655
Time Issued: Wednesday, 14 October 2020 05:22:15 GMT
Status: open
Entry: 135.887 – 136.543
Limit: 135.129
Stop Loss: 137.752

The Breakout Opportunities system has just sold GBPJPY at 136.14. The system recommends entering this trade at any price between 135.887 and 136.543. The signal was issued because the GBPJPY has broken its 24-hour low while our Speculative Sentiment Index was at 2.439, suggesting that the GBPJPY may have further to fall. A stop loss has been set at the 24-hour high of 137.752 and a profit target has been set at the 1 Day ATR level at 135.129. 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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