Forex Trend Analysis Report
Prepared for you on Tuesday, October 23, 2018.
Mexican Peso/Japanese Yen (FOREX:MXNJPY)
Smart Scan Chart Analysis shows the current downward trend is at a crossroads and has possibly ended. Look for choppy trading action in the nearterm Very Weak Downtrend with very tight stops.
The Trade Triangles are generated using a proprietary algorithm that is comprised of weighted factors that include, but are not limited to - price change, percentage change, moving averages, and new highs/lows. The MarketClub trading strategy is based on the triangles, learn more here.
MarketClub’s Trade Triangles for MXNJPY
The long term trend has been UP since Jul 12th, 2018 at 5.9709
The intermediate term trend has been DOWN since Oct 10th, 2018 at 5.9038
The short term trend has been DOWN since Oct 18th, 2018 at 5.9225
Smart Scan Analysis for MXNJPY
Based on a pre-defined weighted trend formula for chart analysis, MXNJPY scored -60 on a scale from -100 (strong downtrend) to +100 (strong uptrend).