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.
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 29 Pips
Relative to other instruments in the forex asset class, try/jpy ranked 39th yesterday in terms of percentage price change.
TRY/JPY Down 29 Pips
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.
TRY/JPY 3 Day Down Streak Broken; Pin Bar Pattern Appearing on Chart
Relative to other instruments in the forex asset class, try/jpy ranked 20th yesterday in terms of percentage price change.
TRY/JPY Fares the Worst Out of Forex, Makes Big Move Relative to Two Week Trend; Moves Down For the 3rd Day In A Row
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 Makes Big Move Relative to Two Week Trend, Moves Down For the 2nd Day In A Row; Price Base in Formation Over Past 14 Days
Relative to other instruments in the forex asset class, try/jpy ranked 34th yesterday in terms of percentage price change.
TRY/JPY Makes Big Move Relative to Two Week Trend, Crosses 20 Day Moving Average; in a Downtrend Over Past 90 Days
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.
TRY/JPY Down 6 Pips; in a Downtrend Over Past 90 Days
Relative to other instruments in the forex asset class, try/jpy ranked 31st yesterday in terms of percentage price change.
TRY/JPY Up 6 Pips; in a Downtrend Over Past 30 Days
Volatility for try/jpy has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note.
TRY/JPY Down 6 Pips; 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.