Breakout Identified in USDJPY

Breakout Identified in USDJPY for FX:USDJPY by FXCM

Breakout Identified in USDJPY



104.496 – 104.702 Add to Watch List
Signal ID: 73871
Time Issued: Tuesday, 03 November 2020 07:00:16 GMT
Status: open
Entry: 104.496 – 104.702
Limit: 104.115
Stop Loss: 104.937

The Breakout Opportunities system has just sold USDJPY at 104.623. The system recommends entering this trade at any price between 104.496 and 104.702. The signal was issued because the USDJPY has broken its 24-hour low while our Speculative Sentiment Index was at 3.437, suggesting that the USDJPY may have further to fall. A stop loss has been set at the 24-hour high of 104.937 and a profit target has been set at the 1 Day ATR level at 104.115. 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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