Forex Trend Analysis Report
Prepared for you on Tuesday, March 2, 2021.
Chinese Yuan Renminbi Offshore/Japanese Yen (FOREX:CNHJPY)
Long-Term Uptrend (+90) - CNHJPY is in a strong uptrend that is likely to continue. While CNHJPY is showing intraday weakness, it remains in the confines of a bullish trend. Traders should use caution and utilize a stop order.
Is it time to buy, sell, or avoid CNHJPY?
MarketClub looks at technical strength and momentum to determine if the timing is right for CNHJPY.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for CNHJPY
The long-term trend has been UP since Aug 27th, 2020 at 15.52800
The intermediate-term trend has been UP since Nov 9th, 2020 at 15.88185
The short-term trend has been UP since Feb 24th, 2021 at 16.37250
Smart Scan Analysis for CNHJPY
Based on our trend formula, CNHJPY is rated as a +90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).