Breakout Identified in USDJPY

Breakout Identified in USDJPY for FX:USDJPY by FXCM

Breakout Identified in USDJPY



Signal ID: 73061
Time Issued: Wednesday, 26 August 2020 08:16:15 GMT
Status: open
Entry: 106.097 – 106.312
Limit: N/A
Stop Loss: N/A

The Breakout Opportunities system has just sold USDJPY at 106.233. The system recommends entering this trade at any price between 106.097 and 106.312. The signal was issued because the USDJPY has broken its 24-hour low while our Speculative Sentiment Index was at 2.229, suggesting that the USDJPY may have further to fall. A stop loss has been set at the 24-hour high of 106.549 and a profit target has been set at the 1 Day ATR level at 105.689. 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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