Forex Trend Analysis Report
Prepared for you on Saturday, November 16, 2019.
Chinese Yuan Renminbi Offshore/Japanese Yen (FOREX:CNHJPY)
Smart Scan Chart Analysis indicates a counter trend rally is underway. It also indicates that the current down trend could be changing and moving into a trading range Sidelines Mode.
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 CNHJPY
The long term trend has been DOWN since May 9th, 2019 at 16.1150
The intermediate term trend has been UP since Oct 14th, 2019 at 15.3271
The short term trend has been DOWN since Nov 12th, 2019 at 15.5335
Smart Scan Analysis for CNHJPY
Based on a pre-defined weighted trend formula for chart analysis, CNHJPY scored -55 on a scale from -100 (strong downtrend) to +100 (strong uptrend).