TRY/JPY Down 7 Pips Over Past 4 Hours, Outperforms All Forex; Price Base in Formation Over Past 14 Days

TRY/JPY 4 Hour Price Update

Updated March 31, 2020 12:53 AM GMT (08:53 PM EST)

TRY/JPY is down 7 pips (0.42%) since the previous 4 hours (opening the current 4 hour candle near 16.379), marking the 12th candle in a row it has gone down. Out of the 40 instruments in the Forex asset class, TRY/JPY ended up ranking 38th for the four-hour candle in terms of price change.

TRY/JPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

TRY/JPY entered today at 16.572050393894, up 25 pips (1.51%) from the previous day. On a relative basis, the previous day was pretty good: TRY/JPY bested all 40 of the assets in the Forex class 🙂 The price chart of TRY/JPY below illustrates.

TRY/JPY Technical Analysis

Coming into today the current price of TRY/JPY is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 8 out of the past 14 days.