AUDJPY Breakout Into Free Space

Will it be a false break?

Last week I saw the AUDJPY breakout into free space of a long time area of resistance. I now have a great potential to watch this pair for any bullish price action signals coming of the broken resistance area to now act as a support.

The question now, is will price give a false breakout with a bearish candle closing back below the 79.82 price level. Or will we see a continuation of the bullish momentum to the next resistance.

Using the Forex swing trading strategy with trading the Daily charts is the best way to approach this setup. If you haven’t yet had a chance to check out the swing trading strategy take a look now here.

Let me know if you are also planning on trading this pair if there is a solid bullish signal of the broken resistance.

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