Forex Trend Analysis Report
Prepared for you on Tuesday, January 21, 2020.
Brazilian Real/Japanese Yen (FOREX:BRLJPY)
Smart Scan Chart Analysis confirms that a short term counter trend move is underway. When this action is over look for the longer term negative trend to resume. Downtrend with 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 BRLJPY
The long term trend has been DOWN since Jan 2nd, 2019 at 28.0535
The intermediate term trend has been DOWN since Jan 7th, 2020 at 26.5330
The short term trend has been UP since Jan 20th, 2020 at 26.4880
Smart Scan Analysis for BRLJPY
Based on a pre-defined weighted trend formula for chart analysis, BRLJPY scored -85 on a scale from -100 (strong downtrend) to +100 (strong uptrend).