Forex Trend Analysis Report
Prepared for you on Friday, December 4, 2020.
Nigerian Naira/Japanese Yen (FOREX:NGNJPY)
Crossroads (-60) - NGNJPY is struggling to move into a solid trend. Beware of choppy markets and consider a sidelines position until a stronger trend is identified.
Is it time to buy, sell, or avoid NGNJPY?
MarketClub looks at technical strength and momentum to determine if the timing is right for NGNJPY.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for NGNJPY
The long-term trend has been DOWN since Oct 30th, 2020 at 0.26927227
The intermediate-term trend has been UP since Dec 2nd, 2020 at 0.27755995
The short-term trend has been UP since Dec 1st, 2020 at 0.27439290
Smart Scan Analysis for NGNJPY
Based on our trend formula, NGNJPY is rated as a -60 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).