TRY/JPY Heads Down For the 2nd Day In A Row; in a Downtrend Over Past 14 Days

TRY/JPY Price Recap

TRY/JPY is down 28 pips (1.65%) since yesterday (with its current price near 16.539), marking the 2nd day in a row it has gone down. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 68.69% from the day prior, and up 140.84% from the same day the week before. Out of the 40 instruments in the Forex asset class, TRY/JPY ended up ranking 29th for the day in terms of day-over-day price change. The price chart of TRY/JPY below illustrates.

TRY/JPY Technical Analysis

The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 10 days TRY/JPY’s price has gone down 6 them.