EURJPY FORECAST -TRADING WITH WEIS WAVE WITH SPEED INDEX

Setup 1Hour Chart

Indicators: Weis Pip Wave, Weis Wave with Alert (+Speed Index) and No Demand No Supply ( https://www.mql5.com/en/users/takisd/seller)

Our Story:

1. Approaching Support from Daily Chart

2. First Push Up after a very long time - High SI of 41.8 

3. False Break with a fast wave - Low SI 9.0

Current forming wave High SI of 38.2 meaning hard time to move down at least so far - we have to wait for the wave to finish.

Furthermore look at the volumes at the bottom.

According to the above our Forecast is Long after it breaks Resistance , unless it does not break soon and it starts ranging (because they need to buy more) then we have to look at our waves again. I would not be suprised if the do another false break down touching the  Support from the Daily chart.

to be continued....

As Forecasted we broke the Resistance Level 27 pips up and hit the next Resistance Level were we found some Sellers.