Forex Trend Analysis Report
Prepared for you on Friday, May 24, 2019.
Nigerian Naira/Japanese Yen (FOREX:NGNJPY)
Smart Scan Chart Analysis shows the current downward trend is at a crossroads and has possibly ended. Look for choppy trading action in the nearterm Very Weak Downtrend with very tight stops.
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 UP since Feb 22nd, 2019 at 0.367105
The intermediate term trend has been DOWN since May 2nd, 2019 at 0.307900
The short term trend has been DOWN since May 23rd, 2019 at 0.304800
Smart Scan Analysis for NGNJPY
Based on a pre-defined weighted trend formula for chart analysis, NGNJPY scored -60 on a scale from -100 (strong downtrend) to +100 (strong uptrend).