Forex Trend Analysis Report
Prepared for you on Tuesday, May 21, 2019.
Chinese Yuan Renminbi Offshore/Japanese Yen (FOREX:CNHJPY)
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 CNHJPY
The long term trend has been DOWN since May 9th, 2019 at 16.11500
The intermediate term trend has been DOWN since Apr 30th, 2019 at 16.49885
The short term trend has been UP since May 19th, 2019 at 15.90795
Smart Scan Analysis for CNHJPY
Based on a pre-defined weighted trend formula for chart analysis, CNHJPY scored -85 on a scale from -100 (strong downtrend) to +100 (strong uptrend).