Breakout Identified in EURJPY

FX:EURJPY   Euro / Japanese Yen
Signal ID: 73920
Time Issued: Friday, 06 November 2020 03:42:15 GMT
Status: open
Entry: 122.102 - 122.495
Limit: 121.550
Stop Loss: 123.122

The Breakout Opportunities system has just sold EURJPY at 122.286. The system recommends entering this trade at any price between 122.102 and 122.495. The signal was issued because the EURJPY has broken its 24-hour low while our Speculative Sentiment Index was at 1.648, suggesting that the EURJPY may have further to fall. A stop loss has been set at the 24-hour high of 123.122 and a profit target has been set at the 1 Day ATR level at 121.55. 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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The system was wrong.
FXCM Helena_FX
@Helena_FX, thanks for leaving a comment but could you elaborate further on what you mean by the system was wrong?
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