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 May 26, 2020)
Welcome to the news page for TRYJPY (TRYJPY). Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
The Trend
As for trends on TRYJPY, we’re seeing an uptrend on shorter timeframes — but a downtrend on the 90 day timeframe. As such, traders with short positions should be aware of the downtrend in place on the longer timeframes.
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 20) — are bearish, implying a downward trend, aside from a jump about 3 weeks prior.
Below is a chart showing TRYJPY’s price with its moving averages.
As for correlation, As for assets in the Forex asset class TRYJPY has been correlated to over the past week, it has demonstrated the strongest correlation with GBPJPY. Over the past 14 days, however, USDTRY is the asset most correlated to TRYJPY. Alternatively, the asset least correlated with TRYJPY over the past week has been NZDUSD, but if we observe the prior two weeks, EURNZD has been the asset least correlated with TRYJPY. See the chart below to observe the recent price action in TRYJPY versus those of assets it hasn’t been well correlated with.
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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.