TRY/JPY Down 32 Pips; in a Downtrend Over Past 30 Days

TRY/JPY Price Recap

TRY/JPY, currently priced near 17.355, is down 32 pips 1.81% since yesterday, marking a reversal from the day prior — and the end of a 3 day positive run. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was down 7.26% from the day prior, but up 16.73% from the same day the week before. Out of the 40 instruments in the Forex asset class, TRY/JPY ended up ranking 39th for the day in terms of day-over-day price change. Below is a price chart of TRY/JPY.

TRY/JPY Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 30 days TRY/JPY’s price has gone down 16 them.