TRY/JPY Up 6 Pips; in a Downtrend Over Past 30 Days

TRY/JPY Price Recap

18.17 (USD) was the opening price of the day for TRY/JPY, resulting in yesterday being a day in which price moved up 6 pips 0.34% from the day prior. This move happened on fewer tick price changes which may be a proxy for volume, as yesterday’s total tick count was down 61.87% from the day before — and down 60.73% from the same day the week before. Relative to other instruments in the Forex asset class, TRY/JPY ranked 3rd yesterday in terms of percentage price change. Let’s take a look at price chart of TRY/JPY.

TRY/JPY Technical Analysis

Coming into today the current price of TRY/JPY is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 14 days TRY/JPY’s price has gone up 7 them.