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 September 18, 2020)
Hello! This is the news page for TRYJPY. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
The Trend
If we observe the 90, 30 and 14 day timeframes, we see a downtrend in place for TRYJPY.
TRYJPY Moving Averages
TRYJPY’s moving averages suggest the trend on a number of time horizons is bearish.
The chart below illustrates.
Regarding TRYJPY’s correlations over the past 7 days, it has demonstrated the strongest correlation with USDMXN. If we zoom out to a two week basis, though, the asset showing the strongest correlation to TRYJPY is EURTRY. Alternatively, CHFJPY has been the asset least correlated with TRYJPY — but if we observe the prior two weeks, NZDUSD 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
Currently, TRYJPY’s rate is down -0.302 (-2.14%) from the week prior. TRYJPY has seen its price go down 10 out of the past 10 weeks, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 20 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a bullishness in price, as the 20 and 50 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. TRYJPY’s weekly price action over the past 52 weeks can be seen via the chart below.
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.