Forex Trend Analysis Report
Prepared for you on Wednesday, August 5, 2020.
Mexican Peso/Japanese Yen (FOREX:MXNJPY)
Long-Term Downtrend (-90) - MXNJPY is in a strong downtrend that is likely to continue. While MXNJPY 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 MXNJPY?
MarketClub looks at technical strength and momentum to determine if the timing is right for MXNJPY.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for MXNJPY
The long-term trend has been DOWN since Feb 28th, 2020 at 5.53550
The intermediate-term trend has been DOWN since Jun 26th, 2020 at 4.64825
The short-term trend has been DOWN since Jul 30th, 2020 at 4.73670
Smart Scan Analysis for MXNJPY
Based on our trend formula, MXNJPY is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).