Summary
• BNB/Yen dropped from 135,633 to 133,177, breaching key support at 134,000.
• Strong bearish momentum shown by 20-period MACD, with RSI near oversold levels.
• Volatility surged during the 1500–1600 ET window with high-volume declines.
• Bollinger Bands expanded during the selloff, confirming heightened uncertainty.
• Fibonacci retracements suggest 134,000 as a potential short-term reversal level.
Market Overview
BNB/Yen opened at 135,062 and closed at 133,177 after hitting a high of 135,633 and a low of 133,177. Total volume reached 1,004.60, with turnover at ¥135,478,966. The pair has shown bearish divergence across key indicators.
Structure and Trend Analysis
Price action displayed a key breakdown below 134,000, confirming short-term bearish bias.
A bearish engulfing pattern formed at the 0700 ET time frame, followed by a long-legged doji near 134,500, signaling indecision. The 20-period moving average dipped below 135,000, aligning with the 61.8% Fibonacci retracement of the 135,633–133,177 leg.
Momentum and Oscillator Signals
The 20-period MACD turned sharply negative, with bearish divergence in line with price declines. RSI dropped into the oversold range, raising the possibility of a short-term bounce. However, given the broader downtrend, a rebound may only offer a temporary relief.
Volatility and Bollinger Band Behavior
Bollinger Bands expanded significantly during the 1500–1600 ET window, indicating rising volatility. Prices closed near the lower band, reinforcing bearish momentum. A period of consolidation or a reversal candle near 134,000 could hint at a potential reversal.
While a rebound into the 134,500–135,000 range appears possible, traders should remain cautious about a continuation of the selloff, especially with volume still trending higher. A breakout above 134,500 could reinvigorate bullish sentiment, but bears are in control for now.
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