TRY/JPY Up 1 Pips in Last 4 Hours, Tops All Forex; But Still in a Downtrend Over Past 14 Days
Try/jpy outperformed all 40 assets in the forex asset class yesterday.
TRYJPY
(Last Updated April 15, 2021)
Hello! This is the news page for TRYJPY. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
Forex Calendar for TRYJPY
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| Japan BoJ Gov Kuroda Speech | NA | Japanese Yen | JPY | 2021-04-15 | 01:00 GMT | ||
| Turkey TCMB Interest Rate Decision | 2021 | Turkish Lira | TRY | 2021-04-15 | 11:00 GMT | 19% | 19% |
| Japan Reuters Tankan Index | Apr 2021 | Japanese Yen | JPY | 2021-04-15 | 23:00 GMT | ||
| Japan Exports YoY | Mar 2021 | Japanese Yen | JPY | 2021-04-18 | 23:50 GMT | ||
| Japan Balance of Trade | Mar 2021 | Japanese Yen | JPY | 2021-04-18 | 23:50 GMT |
The Trend
If we observe the 90 and 30 day timeframes, we see a downtrend in place for TRYJPY.
TRYJPY Moving Averages
TRYJPY’s moving averages tell a multi-facted story about its trend. Of the 20, 50, 100, and 200 day averages — three of them (all but the 100) — are bearish, suggesting the trend is generally downward, aside from a rally about 3 months prior. Moreover, today we saw the 20 moving average turn bearish.
Below is a chart showing TRYJPY’s price with its moving averages.
Regarding TRYJPY’s correlations over the past 7 days, it has demonstrated the strongest correlation with USDCHF. Over the past 14 days, however, the asset showing the strongest correlation to TRYJPY is EURTRY. Alternatively, the asset least correlated with TRYJPY over the past week has been AUDUSD, but over the past two weeks, EURAUD has been the asset least correlated with TRYJPY. The chart below illustrates TRYJPY against its least correlated assets.
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The View From the Weekly Timeframe
At the moment, TRYJPY’s rate is up 488 pips (0.36%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved down. Regarding the trend, note that the strongest trend exists on the 10 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. TRYJPY’s weekly price action over the past 52 weeks can be seen via the chart below.
TRYJPY: The Monthly View
Clearest trend on the monthly is apparent at the 24 month timeframe.
TRY/JPY Down 12 Pips in Last 4 Hours; in a Downtrend Over Past 14 Days
Relative to other instruments in the forex asset class, try/jpy ranked 3rd the previous day in terms of percentage price change.
TRY/JPY Up 21 Pips in Last 4 Hours
Relative to other instruments in the forex asset class, try/jpy ranked 39th the previous day in terms of percentage price change.
TRY/JPY Up 1 Pips in Last 4 Hours, Outperforms All Forex; But Still in a Downtrend Over Past 90 Days
For context, observe that yesterday was noteworthy in the sense that try/jpy bested all 40 of the assets in the forex class.
TRY/JPY Down 11 Pips in Last 4 Hours, Tops All Forex; 3 Day Down Streak Ended
Try/jpy outperformed all 40 assets in the forex asset class yesterday.
TRY/JPY Down 7 Pips Over Past 4 Hours, Outperforms All Forex; Price Base in Formation Over Past 14 Days
Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
TRY/JPY Down 19 Pips in Last 4 Hours, Outperforms All Forex; 2 Day Down Streak Broken
The clearest trend exists on the 90 day timeframe, which shows price moving down over that time.
TRY/JPY Up 4 Pips in Last 4 Hours, Underperforms All Forex; in a Downtrend Over Past 30 Days
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down.
TRY/JPY Up 21 Pips Over Past 4 Hours, Entered Today Up For the 4th Day In A Row; in a Downtrend Over Past 30 Days
Relative to other instruments in the forex asset class, try/jpy ranked 7th yesterday in terms of percentage price change.
TRY/JPY Down 21 Pips; in a Downtrend Over Past 14 Days
This move happened on fewer tick price changes which may be a proxy for volume, as yesterday’s total tick count was down 30% from the day before — and down 33.97% from the same day the week before.