Forex Trend Analysis Report
Prepared for you on Tuesday, August 20, 2019.
US Dollar/Japanese Yen (FOREX:USDJPY)
Smart Scan Chart Analysis is showing some near term rallying power. However, this market remains in the confines of a longer-term Downtrend with tight money management 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 USDJPY
The long term trend has been DOWN since May 31st, 2019 at 108.861
The intermediate term trend has been DOWN since Aug 1st, 2019 at 107.215
The short term trend has been UP since Aug 13th, 2019 at 106.033
Smart Scan Analysis for USDJPY
Based on a pre-defined weighted trend formula for chart analysis, USDJPY scored -75 on a scale from -100 (strong downtrend) to +100 (strong uptrend).