Breakout Identified in GBPJPY

Breakout Identified in GBPJPY for FX:GBPJPY by FXCM

Breakout Identified in GBPJPY



SELL
135.451 – 135.907 Add to Watch List
Signal ID: 72639
Time Issued: Wednesday, 22 July 2020 07:19:15 GMT
Status: open
Entry: 135.451 – 135.907
Limit: 134.577
Stop Loss: 136.336

The Breakout Opportunities system has just sold GBPJPY at 135.742. The system recommends entering this trade at any price between 135.451 and 135.907. The signal was issued because the GBPJPY has broken its 24-hour low while our Speculative Sentiment Index was at 1.81, suggesting that the GBPJPY may have further to fall. A stop loss has been set at the 24-hour high of 136.402 and a profit target has been set at the 1 Day ATR level at 134.577. 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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