Forex Trend Analysis Report
Prepared for you on Friday, December 8, 2023.
Malaysian Ringt/Japanese Yen (FOREX:MYRJPY)
Long-Term Downtrend (-90) - MYRJPY is in a strong downtrend that is likely to continue. While MYRJPY is showing intraday strength, it remains in the confines of a bearish trend. Traders should use caution and set stops.
Is it time to buy, sell, or avoid MYRJPY?
MarketClub looks at technical strength and momentum to determine if the timing is right for MYRJPY.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for MYRJPY
The long-term trend has been DOWN since Dec 7th, 2023 at 31.178775
The intermediate-term trend has been DOWN since Nov 27th, 2023 at 31.724755
The short-term trend has been DOWN since Nov 27th, 2023 at 31.861162
Smart Scan Analysis for MYRJPY
Based on our trend formula, MYRJPY is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).