TRY/JPY Tops All Forex, Up 40 Pips; But Still in a Downtrend Over Past 30 Days

TRY/JPY Price Recap

16.815 (USD) was the opening price of the day for TRY/JPY, resulting in yesterday being a day in which price moved up 40 pips 2.44% from the day prior. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was up 39.93% from the day prior, but down 21.56% from the same day the week before. TRY/JPY outperformed all 40 assets in the Forex asset class yesterday. Congrats to its holders! Visually, we could say…

via GIPHY

Okay, okay, you know we have trouble resisting the memes around here 🙂 Getting back to business, here is a price chart of TRY/JPY.

TRY/JPY Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 16 out of the past 30 days.