FXCM

Breakout Identified in GBPJPY

Short
FX:GBPJPY   British Pound / Japanese Yen
Signal ID: 73506
Time Issued: Friday, 02 October 2020 05:06:15 GMT
Status: open
Entry: 135.106 - 135.776
Limit: 134.303
Stop Loss: 136.985

The Breakout Opportunities system has just sold GBPJPY at 135.373. The system recommends entering this trade at any price between 135.106 and 135.776. The signal was issued because the GBPJPY has broken its 24-hour low while our Speculative Sentiment Index was at 2.689, suggesting that the GBPJPY may have further to fall. A stop loss has been set at the 24-hour high of 136.985 and a profit target has been set at the 1 Day ATR level at 134.303. 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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