{
  "ticker": {
    "uuid": "5d995a17-b35f-469d-80fd-7c696f3f6081",
    "symbol": "FXY",
    "name": "INVESCO CCY SHS JAPANESE YEN TR JAPANESE YEN SHS ETF",
    "exchange": "NYSEARCA",
    "country": "US",
    "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": "SPY",
    "stage": 4,
    "stage_name": "Declining",
    "phase": "4c",
    "phase_label": "Stage 4C \u00b7 Repair watch",
    "transition": "stage_4_to_1_watch",
    "transition_label": "Stage 4 \u2192 1 repair watch",
    "confidence": 48.643,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Established contraction",
    "architecture_gate": "down",
    "architecture_direction": -9.483,
    "architecture_energy": 10.703,
    "architecture_maturity": 91.216,
    "architecture_confidence": 61.498,
    "architecture_tenure": "Established",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding downward.",
        "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation."
      },
      "scores": {
        "balance": 45.26,
        "rotation_up": 33.52,
        "upward_expansion": 23.13,
        "deceleration": 41.12,
        "rotation_down": 23.38,
        "downward_expansion": 59.46
      },
      "activity_lines": [
        57.314667,
        57.084364,
        57.267857,
        57.479462
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      "activity_state": "Compressed",
      "activity_direction": "Contracting",
      "rotation_direction": "Improving",
      "price_acceptance": -0.166667
    },
    "latest_close": 58.24,
    "trend_reference": 57.843,
    "distance_from_trend": 0.006863,
    "trend_direction": "Weakening",
    "fair_value": 60.878365,
    "distance_from_fair_value": -0.043338,
    "fair_value_direction": "Improving",
    "relative_strength": -12.171813,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.004444,
    "excess_performance": -0.130069,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.006863,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.010822,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.043338,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.005286,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.121718,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.019765,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.004444,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.718808,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 1955035,
      "relative_activity": 1.821478,
      "balance": 0.718808,
      "dry_up": 1.716821,
      "accumulation_observations": 2,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.010698,
      "annualized_volatility": 0.077004,
      "from_high_reference": -0.079359,
      "from_low_reference": 0.040742
    },
    "levels": {
      "trend_reference": 57.843,
      "fair_value_reference": 60.878365,
      "structural_low": 55.9601,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 44,
        "median_return": -0.004374,
        "positive_rate": 0.318182,
        "directional_follow_through": 0.659091,
        "median_excess_return": -0.017306,
        "regime_survival": 0.863636,
        "best_return": 0.091967,
        "worst_return": -0.065202,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 15,
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        "directional_follow_through": 0.733333,
        "median_excess_return": -0.029561,
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        "worst_return": -0.087355,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 8,
        "median_return": -0.045347,
        "positive_rate": 0.375,
        "directional_follow_through": 0.625,
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        "worst_return": -0.153426,
        "sufficient": true
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      {
        "horizon": "Full cycle",
        "sample_count": 4,
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        "worst_return": -0.195805,
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      {
        "regime": "upward_expansion",
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      {
        "regime": "deceleration",
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        "date": "2026-04-24",
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        "date": "2026-05-22",
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        "date": "2026-05-29",
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        "date": "2026-06-05",
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      },
      {
        "date": "2026-07-03",
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      },
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        "date": "2026-07-10",
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      },
      {
        "date": "2026-07-17",
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        "typical_volume": 867966.9,
        "trend": 57.963667,
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        "relative_strength": -12.735895,
        "stage": 4,
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        "energy": 75.197931,
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          56.708667,
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      },
      {
        "date": "2026-07-24",
        "close": 56.04,
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        "typical_volume": 891798.4,
        "trend": 57.873667,
        "fair_value": 60.966571,
        "relative_strength": -12.503249,
        "stage": 4,
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        "modifier": "Established contraction",
        "gate": "down",
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        "energy": 78.143095,
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      },
      {
        "date": "2026-07-31",
        "close": 57.66,
        "volume": 3267990,
        "typical_volume": 1013551.9,
        "trend": 57.842667,
        "fair_value": 60.91625,
        "relative_strength": -10.466559,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -48.967079,
        "energy": 39.83011,
        "activity_lines": [
          56.828,
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          57.187381,
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        ]
      },
      {
        "date": "2026-08-07",
        "close": 58.24,
        "volume": 1955035,
        "typical_volume": 1073323.35,
        "trend": 57.843,
        "fair_value": 60.878365,
        "relative_strength": -12.171813,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Established contraction",
        "gate": "down",
        "direction": -9.482792,
        "energy": 10.702752,
        "activity_lines": [
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      }
    ],
    "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."
    }
  }
}