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Forex Trend Analysis Report

Prepared for you on Wednesday, May 31, 2023.

Nigerian Naira/Japanese Yen (FOREX:NGNJPY)

Bull Market Weakness (+75) - NGNJPY is showing signs of short-term weakness, but still remains in the confines of a long-term uptrend. Keep an eye on NGNJPY as it may be in the beginning stages of a reversal.

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.

FOREX_NGNJPY
Open High Low NGNJPY Price Change
0.30327259 0.30429765 0.30230611 0.30244805 -0.00082500
Entry Signal

MarketClub’s Trade Triangles for NGNJPY

long term up The long-term trend has been UP since May 18th, 2023 at 0.29946032

intermediate term up The intermediate-term trend has been UP since Apr 10th, 2023 at 0.29050919

short term down The short-term trend has been DOWN since May 30th, 2023 at 0.30264534

Smart Scan Analysis for NGNJPY

Based on our trend formula, NGNJPY is rated as a +75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

+75
Smart Scan Analysis for NGNJPY
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
0.30327259 0.30429765 0.30230611 0.30244805 -0.00082500
Prev. Close Volume Bid Ask Time
0.30327259 2023-05-31 13:10:18
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