Forex Trend Analysis Report
Prepared for you on Friday, December 8, 2023.
US Dollar/Japanese Yen (FOREX:USDJPY)
Long-Term Downtrend (-90) - USDJPY is in a strong downtrend that is likely to continue. While USDJPY is showing intraday strength, it remains in the confines of a bearish trend. Traders should use caution and set stops.
Is it time to buy, sell, or avoid USDJPY?
MarketClub looks at technical strength and momentum to determine if the timing is right for USDJPY.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for USDJPY
The long-term trend has been DOWN since Dec 7th, 2023 at 144.4750
The intermediate-term trend has been DOWN since Nov 19th, 2023 at 148.8275
The short-term trend has been DOWN since Dec 7th, 2023 at 146.4620
Smart Scan Analysis for USDJPY
Based on our trend formula, USDJPY is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).