TRY/JPY Down 6 Pips; in a Downtrend Over Past 90 Days

TRY/JPY Price Recap

The choppiness in the recent daily price action of TRY/JPY continues; to start today, it comes in at a price of 18.115 US dollars, down 6 pips (0.3%) since yesterday. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was up 77.92% from the day prior, but down 27.52% 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. Below is a price chart of TRY/JPY.

TRY/JPY Technical Analysis

Coming into today TRY/JPY is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. Volatility for TRY/JPY has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days TRY/JPY’s price has gone up 7 them.