Forex Trend Analysis Report
Prepared for you on Wednesday, January 26, 2022.
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 UP since Mar 3rd, 2021 at 0.28100263
The intermediate-term trend has been DOWN since Jan 20th, 2022 at 0.27436458
The short-term trend has been UP since Jan 26th, 2022 at 0.27519785
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).