Is AUDJPY ready to turn down? - TRADING WITH WEIS WAVE WITH SPEED INDEX

These are the reasons that AUDJPY has a possibity to turn down or at least retrace:

1. Decreasing up volume waves

2. Hit Resistance

3. False Break on Resistance level

4. Hard time to go up to hit Resistance again which also happens to be a Fib - High Speed Index of 17.1 on Fib hit.

We need to wait to Break Support with adequate down volume to go short- we have not seen yet any significant down volume waves that's why this could be temporary selling - trade with caution.

to be continued...

Forecast success again.

After seen the following I was 99.9% sure that it will break support and it did after a couple of days.

5. High Speed Index of 25.6 on the way to the 100 Fib

6. False break of about 11 pips above the 100 Fib and down we go.

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