Market Overview for Bitcoin Cash/Yen (BCHJPY), 2025-09-11

• Bitcoin Cash/Yen traded in a tight range before surging on rising volume late in the session.
• Strong bearish momentum emerged mid-session with a 3.2% pullback, but bulls regained control post-9 PM ET.
• Volatility expanded significantly during the overnight Asian session, with a 10.4% high-low swing.
• Bollinger Bands widened and price retested the upper band twice, suggesting a breakout attempt.
• RSI crossed overbought territory early in the morning, while volume and turnover showed mixed signals.

Bitcoin Cash/Yen (BCHJPY) opened at ¥85,731 on September 10, 12:00 ET, and reached an intraday high of ¥89,499 before closing at ¥88,850 as of 12:00 ET on September 11. The 24-hour volume totaled 174.86 BCH, with a notional turnover of ¥14.69 million. The pair traded in a defined range until 6:00 PM ET, then surged sharply overnight.

Structure and formations show a clear short-term support at ¥85,355 and resistance at ¥88,953. A bullish engulfing pattern formed at the 2:00 AM ET candle, which marked a key reversal in sentiment. A bearish harami appeared at 8:00 PM ET, confirming a short-term pullback. The overall structure suggests that buyers are stepping in above ¥88,000 to reinforce the bullish bias.

The 20-period and 50-period moving averages on the 15-minute chart crossed above the 80-period line overnight, forming a bullish signal. Price closed above the 20-period MA, indicating continuation in the short term. The daily chart shows the 50-period MA crossing the 100-period and 200-period lines at ¥87,000, a potential confluence zone for further bullish consolidation.

MACD crossed into positive territory at 9:00 PM ET and remained above the zero line through the Asian session, confirming strong bullish momentum. RSI peaked above 70 at 3:30 AM ET but failed to remain overbought, suggesting the move could be unsustainable in the long term. However, for the next 4-6 hours, the RSI remains in overbought territory, supporting further upward movement.

Bollinger Bands widened significantly during the Asian session as volatility spiked. Price tested the upper band at ¥89,499 and ¥88,978, with the latter forming a potential resistance zone. The midline sits at ¥88,680, and price is currently trading above the 20-period moving average, suggesting continued strength.

Volume increased sharply during the overnight Asian and early European sessions, particularly from 3:00 AM to 5:00 AM ET, confirming the bullish breakout. Notional turnover spiked by 230% during the ¥88,000–¥89,500 rally, indicating strong institutional participation. Divergences between volume and price were not observed, suggesting the move is broadly supported.

Fibonacci retracement levels from the ¥85,355 to ¥89,499 swing show the 61.8% level at ¥88,500 and the 38.2% level at ¥87,400. Price currently trades near the 78.6% level at ¥88,975, which could serve as a near-term resistance. A break above this level would target the ¥90,400–¥91,200 area, while a pullback to ¥88,000 or below could test the 61.8% level.