TRY/JPY Up 23 Pips; in a Downtrend Over Past 90 Days
Out of the 40 instruments in the forex asset class, try/jpy ended up ranking 3rd for the day in terms of day-over-day price change.
(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:
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 |
If we observe the 90 and 30 day timeframes, we see a downtrend in place for TRYJPY.
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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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.
Clearest trend on the monthly is apparent at the 24 month timeframe.
Out of the 40 instruments in the forex asset class, try/jpy ended up ranking 3rd for the day in terms of day-over-day price change.
Relative to other instruments in the forex asset class, try/jpy ranked 39th yesterday in terms of percentage price change.
The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 4.45% from the day prior, and up 142.84% from the same day the week before.
Relative to other instruments in the forex asset class, try/jpy ranked 20th yesterday in terms of percentage price change.
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.
Relative to other instruments in the forex asset class, try/jpy ranked 34th yesterday in terms of percentage price change.
The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 9.5% from the day prior, and up 45.3% from the same day the week before.
Relative to other instruments in the forex asset class, try/jpy ranked 31st yesterday in terms of percentage price change.
Volatility for try/jpy has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note.
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.