TRY/JPY Makes Big Move Relative to Two Week Trend, Crosses 20 Day Moving Average; in a Downtrend Over Past 90 Days

TRY/JPY Price Recap

18.282 (USD) was the opening price of the day for TRY/JPY, resulting in yesterday being a day in which price moved up 17 pips 0.92% from the day prior. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 9.5% from the day prior, and up 45.3% from the same day the week before. Out of the 40 instruments in the Forex asset class, TRY/JPY ended up ranking 8th for the day in terms of day-over-day price change. Here is a price chart of TRY/JPY.

TRY/JPY Technical Analysis

First things first: TRY/JPY crossed above its 20 day moving average yesterday. 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 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days TRY/JPY’s price has gone down 16 them.