Breakout Identified in USDJPY SELL

107.304 - 107.614 Add to Watch List
Signal ID: 71921
Time Issued: Friday, 22 May 2020 03:27:15 GMT
Status: open
Entry: 107.304 - 107.614
Limit: 106.591
Stop Loss: 107.831

The Breakout Opportunities system has just sold USDJPY at 107.542. The system recommends entering this trade at any price between 107.304 and 107.614. The signal was issued because the USDJPY has broken its 24-hour low while our Speculative Sentiment Index was at 1.941, suggesting that the USDJPY may have further to fall. A stop loss has been set at the 24-hour high of 107.831 and a profit target has been set at the 1 Day ATR level at 106.591. 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.