Forex Trend Analysis Report
Prepared for you on Monday, November 19, 2018.
Nigerian Naira/Japanese Yen (FOREX:NGNJPY)
Smart Scan Chart Analysis shows that positive longer term is weakening. The market action could signal the start of a major trend change Weak Uptrend Very tight money management 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 NGNJPY
The long term trend has been UP since Mar 27th, 2018 at 0.315815
The intermediate term trend has been UP since Nov 5th, 2018 at 0.313120
The short term trend has been DOWN since Nov 14th, 2018 at 0.312030
Smart Scan Analysis for NGNJPY
Based on a pre-defined weighted trend formula for chart analysis, NGNJPY scored +65 on a scale from -100 (strong downtrend) to +100 (strong uptrend).