Forex Trend Analysis Report
Prepared for you on Monday, March 30, 2020.
Nigerian Naira/Japanese Yen (FOREX:NGNJPY)
Sidelines Mode (+55) - NGNJPY is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.
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.
MarketClub’s Trade Triangles for NGNJPY
The long-term trend has been DOWN since Feb 28th, 2020 at 0.29699862
The intermediate-term trend has been UP since Mar 23rd, 2020 at 0.30376158
The short-term trend has been DOWN since Mar 26th, 2020 at 0.29905450
Smart Scan Analysis for NGNJPY
Based on our trend formula, NGNJPY is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).