Forex Trend Analysis Report
Prepared for you on Wednesday, March 21, 2018.
Nigerian Naira/Japanese Yen (FOREX:NGNJPY)
Smart Scan Chart Analysis shows that negative longer term is strengthening. The market action could signal the start of a major trend change Weak Downtrend 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 DOWN since Aug 9th, 2017 at 0.300395
The intermediate term trend has been DOWN since Jan 10th, 2018 at 0.311310
The short term trend has been UP since Mar 20th, 2018 at 0.295280
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).