Somatically-acquired translocations may serve as important markers for assessing the cause and nature of diseases like cancer. Algorithms to locate translocations may use next-generation sequencing (NGS) platform data. However, paired-end strategies do not accurately predict precise translocation breakpoints, and split-read methods may lose sensitivity if a translocation boundary is not captured by many sequenced reads. To address these challenges, we have developed Bellerophon, a method that uses discordant read pairs to identify potential translocations, and subsequently uses soft-clipped reads to predict the location of the precise breakpoints. Furthermore, for each chimeric breakpoint, our method attempts to classify it as a participant in an unbalanced translocation, balanced translocation, or interchromosomal insertion.