FXCM

Breakout Identified in AUDJPY

Long
FX:AUDJPY   Australian Dollar / Japanese Yen
The Breakout Opportunities system has just bought AUDJPY at 84.111. The system recommends entering this trade at any price between 83.851 and 84.256. The signal was issued because the AUDJPY has broken its 24-hour high while our Speculative Sentiment Index was at -1.395, suggesting that the AUDJPY may have further to rise. A stop-loss has been set at the 24-hour low of 83.072 and a profit target has been set at the 1 Day ATR level at 84.689. The system will move the stop to the next 24-hour low every time that 24-hour low is higher than the previous 24-hour low. Breakout Opportunities is a breakout strategy that aims to catch the significant moves that typically happen when currencies breakthrough technical support or resistance.

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Comments

Good analysis!
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What portion of the account do you recommend to risk here?
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