TRY/JPY Moves Up For the 2nd Day In A Row, in a Downtrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart

TRY/JPY Price Recap

TRY/JPY is up 5 pips (0.3%) since yesterday (with its current price near 17.52), marking the 2nd day in a row an upward move has occurred. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 3.53% from the day prior, and up 142.83% from the same day the week before. Out of the 40 instruments in the Forex asset class, TRY/JPY ended up ranking 12th for the day in terms of day-over-day price change. Below is a price chart of TRY/JPY.

TRY/JPY Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 10 days TRY/JPY’s price has gone up 5 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!