TRY/JPY Currency Pair Forecast

Stronger technical forecast for TRY/JPY currency pair price after Friday trading.
(Updated on Jun 28, 2024)

TRYJPY Signals & Forecast

Mostly positive signals in the chart today. The TRY/JPY currency pair holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at JP¥4.86 and JP¥4.82. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 2.97%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). TRY/JPY has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. The currency pair had a Golden Star Signal on Tuesday, May 07, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the currency pair in question.

Buy

Special Signal Notification

Golden Star 12 Months

The currency pair had a Golden Star Signal on Tuesday, May 07, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the currency pair in question.

Sell

Special Signal Notification

Double Top Formation

Support, Risk & Stop-loss for TRY/JPY currency pair

TRY/JPY finds support from accumulated volume at JP¥4.89 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the currency pair tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the currency pair moved JP¥0.118 between high and low, or 2.46%. For the last week the currency pair has had daily average volatility of 1.47%.

Our recommended stop-loss: JP¥4.62 (-5.72%) (This currency pair has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 22 days ago.)

Trading Expectations (TRYJPY) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect TRY/JPY to open at JP¥4.86, and during the day (based on 14 day Average True Range), to move between JP¥4.83 and JP¥4.96, which gives a possible trading interval of +/-JP¥0.0680 (+/-1.39%) up or down from last closing price. If TRY/JPY takes out the full calculated possible swing range there will be an estimated 2.78% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ JP¥4.89, some JP¥0.0100 (0.20%) from the current price of JP¥4.90, our system finds the risk reward attractive.

Is TRY/JPY currency pair A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for TRY/JPY currency pair to perform well in the short-term. We have upgraded our analysis conclusion for this currency pair since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 4.628 Buy Candidate Upgraded

Predicted Opening Price for TRY/JPY of Monday, July 1, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.