TRY/JPY Down 59 Pips; in a Downtrend Over Past 30 Days

TRY/JPY Price Recap

The back and forth price flow continues for TRY/JPY, which starts today off at 16.415 US dollars, down 59 pips 3.47% from the previous day. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was down 38.32% from the day prior, but up 125.59% 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. Let’s take a look at price chart of TRY/JPY.

TRY/JPY Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 16 out of the past 30 days.