{
  "ticker": {
    "uuid": "57e5421a-668e-41e2-89fd-08646929ea48",
    "symbol": "SJPY",
    "name": "WisdomTree Short JPY Long USD",
    "exchange": "LSE",
    "country": "GB",
    "assetType": "etf"
  },
  "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.",
  "analysis": {
    "eligible": true,
    "as_of": "2026-08-07",
    "benchmark": "^FTSE",
    "stage": 3,
    "stage_name": "Distribution",
    "phase": "3b",
    "phase_label": "Stage 3B \u00b7 Distribution",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 76.505,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Re-accelerating",
    "architecture_gate": "up",
    "architecture_direction": 46.728,
    "architecture_energy": 44.038,
    "architecture_maturity": 64.937,
    "architecture_confidence": 52.196,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding upward.",
        "body": "Trend and Activity show sustained positive alignment with constructive price acceptance. Directional energy remains positive; cooling within this regime can indicate that it is maturing."
      },
      "scores": {
        "balance": 19.81,
        "rotation_up": 47.09,
        "upward_expansion": 70.9,
        "deceleration": 62.62,
        "rotation_down": 28.84,
        "downward_expansion": 20.9
      },
      "activity_lines": [
        110.546001,
        110.690274,
        109.855143,
        109.060452
      ],
      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.5
    },
    "latest_close": 108.904999,
    "trend_reference": 107.941,
    "distance_from_trend": 0.008931,
    "trend_direction": "Improving",
    "fair_value": 95.565087,
    "distance_from_fair_value": 0.13959,
    "fair_value_direction": "Weakening",
    "relative_strength": -4.404181,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.048777,
    "excess_performance": -0.017502,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.008931,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.021398,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.13959,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.010088,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.044042,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.02515,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.048777,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.457046,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 882,
      "relative_activity": 2.307692,
      "balance": 0.457046,
      "dry_up": 1.561355,
      "accumulation_observations": 1,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.010115,
      "annualized_volatility": 0.080725,
      "from_high_reference": -0.036196,
      "from_low_reference": 0.133365
    },
    "levels": {
      "trend_reference": 107.941,
      "fair_value_reference": 95.565087,
      "structural_low": 102.889999,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 42,
        "median_return": 0.008753,
        "positive_rate": 0.595238,
        "directional_follow_through": 0.595238,
        "median_excess_return": -0.007657,
        "regime_survival": 0.809524,
        "best_return": 0.06906,
        "worst_return": -0.055167,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 15,
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        "directional_follow_through": 0.733333,
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        "regime_survival": 0.666667,
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        "worst_return": -0.130702,
        "sufficient": true
      },
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        "horizon": "Extended",
        "sample_count": 8,
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        "positive_rate": 0.625,
        "directional_follow_through": 0.625,
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        "regime_survival": 0.5,
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        "sufficient": true
      },
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        "horizon": "Full cycle",
        "sample_count": 4,
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        "worst_return": -0.037941,
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        "activity_lines": [
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        ]
      },
      {
        "date": "2026-05-01",
        "close": 106.764999,
        "volume": 205,
        "typical_volume": 364.55,
        "trend": 104.911619,
        "fair_value": 92.865119,
        "relative_strength": -1.889167,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 46.830923,
        "energy": 36.054032,
        "activity_lines": [
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      },
      {
        "date": "2026-05-08",
        "close": 106.764999,
        "volume": 9,
        "typical_volume": 341.05,
        "trend": 105.131952,
        "fair_value": 93.07608,
        "relative_strength": -0.574326,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 41.132354,
        "energy": 27.17656,
        "activity_lines": [
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          106.233607
        ]
      },
      {
        "date": "2026-05-15",
        "close": 108.285004,
        "volume": 146,
        "typical_volume": 344.6,
        "trend": 105.427786,
        "fair_value": 93.287907,
        "relative_strength": 1.249452,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 52.966266,
        "energy": 33.761764,
        "activity_lines": [
          107.553001,
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      },
      {
        "date": "2026-05-22",
        "close": 108.714996,
        "volume": 571,
        "typical_volume": 373.15,
        "trend": 105.679667,
        "fair_value": 93.491176,
        "relative_strength": -0.950488,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 66.291517,
        "energy": 38.090886,
        "activity_lines": [
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      },
      {
        "date": "2026-05-29",
        "close": 108.860001,
        "volume": 0,
        "typical_volume": 352.55,
        "trend": 105.902333,
        "fair_value": 93.697747,
        "relative_strength": -0.249337,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "up",
        "direction": 69.041814,
        "energy": 50.642849,
        "activity_lines": [
          108.287333,
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      },
      {
        "date": "2026-06-05",
        "close": 109.720001,
        "volume": 12,
        "typical_volume": 319.4,
        "trend": 106.172333,
        "fair_value": 93.910247,
        "relative_strength": 0.938597,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 78.244851,
        "energy": 77.745983,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
        "close": 109.790001,
        "volume": 5,
        "typical_volume": 314.4,
        "trend": 106.408167,
        "fair_value": 94.114157,
        "relative_strength": 0.009875,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 75.238534,
        "energy": 82.867896,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-06-19",
        "close": 110.644997,
        "volume": 301,
        "typical_volume": 303.05,
        "trend": 106.620667,
        "fair_value": 94.315375,
        "relative_strength": 1.858417,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 83.404175,
        "energy": 89.200784,
        "activity_lines": [
          109.865333,
          109.089545,
          108.354357,
          107.607333
        ]
      },
      {
        "date": "2026-06-26",
        "close": 111.029999,
        "volume": 1,
        "typical_volume": 301.45,
        "trend": 106.853833,
        "fair_value": 94.515087,
        "relative_strength": 0.824114,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 83.163818,
        "energy": 92.301535,
        "activity_lines": [
          110.359999,
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          107.891806
        ]
      },
      {
        "date": "2026-07-10",
        "close": 111.160004,
        "volume": 20,
        "typical_volume": 268.9,
        "trend": 107.103833,
        "fair_value": 94.723132,
        "relative_strength": 1.053278,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 79.031388,
        "energy": 90.960296,
        "activity_lines": [
          110.743667,
          109.948909,
          109.010953,
          108.169624
        ]
      },
      {
        "date": "2026-07-17",
        "close": 111.870003,
        "volume": 1,
        "typical_volume": 268.45,
        "trend": 107.366167,
        "fair_value": 94.947875,
        "relative_strength": 0.738977,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 84.58418,
        "energy": 93.173595,
        "activity_lines": [
          111.210668,
          110.439183,
          109.360881,
          108.477119
        ]
      },
      {
        "date": "2026-07-24",
        "close": 112.995003,
        "volume": 23,
        "typical_volume": 269.55,
        "trend": 107.624667,
        "fair_value": 95.16858,
        "relative_strength": 0.505444,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 91.15439,
        "energy": 95.835441,
        "activity_lines": [
          111.909336,
          111.041183,
          109.782406,
          108.840269
        ]
      },
      {
        "date": "2026-07-31",
        "close": 109.945,
        "volume": 1481,
        "typical_volume": 343.5,
        "trend": 107.8125,
        "fair_value": 95.3731,
        "relative_strength": -3.316875,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 66.477603,
        "energy": 63.568467,
        "activity_lines": [
          111.377669,
          110.975365,
          109.876691,
          108.989968
        ]
      },
      {
        "date": "2026-08-07",
        "close": 108.904999,
        "volume": 882,
        "typical_volume": 382.2,
        "trend": 107.941,
        "fair_value": 95.565087,
        "relative_strength": -4.404181,
        "stage": 3,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 46.727967,
        "energy": 44.03759,
        "activity_lines": [
          110.546001,
          110.690274,
          109.855143,
          109.060452
        ]
      }
    ],
    "method": {
      "price_basis": "completed market observations",
      "trend": "Trend provides the primary directional reference.",
      "fair_value": "Fair Value provides long-term price context and is not a forecast or target.",
      "relative_strength": "Relative Strength shows leadership or lagging performance against the market benchmark.",
      "classification": "The SM framework combines Trend, Activity, Fair Value, Relative Strength and participation into a structural read."
    }
  }
}