Market Overview for IOTXJPY on 2025-10-05

• IOTXJPY rallied sharply, closing +5.2% higher at 3.488 Yen with a key breakout above 3.47.
• Volatility surged during the session, with Bollinger Bands widening and momentum confirmed by rising RSI.
• A bullish engulfing pattern emerged around 3.45–3.47, with heavy volume confirming the reversal.
• MACD crossed into positive territory with strong histogram growth, suggesting sustained upward momentum.
• Volume and turnover aligned during the rally, confirming strength rather than divergence.

IoTeX/Yen (IOTXJPY) opened at 3.358 Yen at 12:00 ET–1 and closed at 3.488 Yen at 12:00 ET. The 24-hour range was 3.355–3.525 Yen, with a total volume of 1,093,932.0 IOTX and a notional turnover of ¥3,738,108. The pair posted a strong bullish reversal amid increased volatility and aligned volume confirmation.

Structure & Formations

The price structure showed a key bullish reversal from 3.45–3.47, where a large bullish engulfing pattern emerged. A doji at 3.426 on the morning session marked a pause before the sharp rally. Support levels formed around 3.461 and 3.456, while resistance levels at 3.483 and 3.493 were tested and held during the session. The 3.48–3.49 range appears to be a critical consolidation zone ahead of further upside.

Moving Averages

On the 15-minute chart, the 20-period MA moved above the 50-period MA around 3.43–3.45, signaling a shift in short-term bias. The 50-period MA crossed above the 100-period MA in the morning, suggesting a broader-term bullish shift. Daily chart indicators (200-period MA) remain well below the current price, reinforcing the recent strength in the pair.

MACD & RSI

The MACD crossed into positive territory around 09:00 ET and continued to expand through the session, indicating strong momentum. The RSI rose from the 45–50 range to 63–65 by the close, showing no signs of overbought conditions despite the sharp move. This suggests the rally may have room to extend, though a pullback to the 55–60 range could offer entry points for continuation trades.

Bollinger Bands

Volatility expanded during the session as Bollinger Bands widened from ±0.008 to ±0.018. Price action moved above the upper band after the 08:15 ET–08:45 ET rally and remained elevated through most of the session. This indicates a period of strong conviction among buyers, with the potential for consolidation or a pullback if the bands begin to contract again.

Volume & Turnover

Volume spiked from ~10,000 IOTX to over 119,000 IOTX during the early morning rally, with the highest volumes occurring between 08:15 ET–08:45 ET. Turnover increased in tandem, confirming the strength of the move rather than signaling divergence. The final hours of the session saw moderate volume and a more orderly price action, suggesting a consolidation phase ahead.

Fibonacci Retracements

On the 15-minute chart, the move from 3.355 to 3.525 reached the 78.6% Fibonacci level at 3.489 by the close. The 61.8% retracement level at 3.477 was tested multiple times, acting as a dynamic support/resistance. On the daily chart, the 38.2% retracement from a longer-term bearish leg was at 3.47, which aligns well with recent support.

Backtest Hypothesis

A potential backtest strategy could focus on confirming the 20/50 MA crossover on the 15-minute chart and entering on a bullish engulfing pattern above the 61.8% Fibonacci retracement. A stop-loss could be placed below a recent swing low at 3.461, while a take-profit target might aim for the 78.6% level at 3.493. This approach would balance technical confirmation with structured risk management, leveraging the current trend and price structure.