Breakout Identified in GBPJPY
The Breakout Opportunities system has just sold GBPJPY at 139.478. The system recommends entering this trade at any price between 139.214 and 139.78. The signal was issued because the GBPJPY has broken its 24-hour low while our Speculative Sentiment Index was at 1.45, suggesting that the GBPJPY may have further to fall. A stop loss has been set at the 24-hour high of 140.687 and a profit target has been set at the 1 Day ATR level at 138.422. 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.
Signal ID: 74239
Time Issued: Monday, 07 December 2020 07:07:15 GMT
Status: open
Entry: 139.214 - 139.78
Limit: 138.422
Stop Loss: 140.687
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Past Performance is not an indicator of future results.
Signal ID: 74239
Time Issued: Monday, 07 December 2020 07:07:15 GMT
Status: open
Entry: 139.214 - 139.78
Limit: 138.422
Stop Loss: 140.687
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed here.
Past Performance is not an indicator of future results.
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