Forex Trend Analysis Report
Prepared for you on Saturday, November 16, 2019.
Nigerian Naira/Japanese Yen (FOREX:NGNJPY)
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 NGNJPY
The long term trend has been DOWN since Jun 16th, 2019 at 0.30025500
The intermediate term trend has been UP since Oct 13th, 2019 at 0.29988000
The short term trend has been DOWN since Nov 13th, 2019 at 0.30084255
Smart Scan Analysis for NGNJPY
Based on a pre-defined weighted trend formula for chart analysis, NGNJPY scored -55 on a scale from -100 (strong downtrend) to +100 (strong uptrend).