Market Overview: Livepeer/Yen (LPTJPY) 24-Hour Summary

• Livepeer/Yen (LPTJPY) surged above ¥1050 on strong volume before consolidating near ¥1059.
• Price formed a bullish engulfing pattern and tested Bollinger Band upper at ¥1060.
• RSI reached overbought territory, while MACD showed positive divergence with price.
• Volatility spiked late in the 24-hour window, with turnover surging on sharp highs.
• A 61.8% Fibonacci retrace at ¥1056.5 appears to be a key near-term support level.

At 12:00 ET–1 on 2025-09-17, LPTJPY opened at ¥990.9 and traded as low as ¥987.6 before rallying to a high of ¥1063.8. The pair closed at ¥1060.1 at 12:00 ET on 2025-09-18, with a 24-hour volume of 4,075.16 units and notional turnover of ¥4,283,566.93. The price action reflected heightened buying interest in the 22:00–08:00 ET window, forming a strong bullish bias and a clear breakout structure.

Structure & Formations

Price exhibited multiple bullish candlestick patterns, including a strong bullish engulfing pattern at ¥1050–1052 and a piercing pattern at ¥1057–1058. The most notable support levels are at ¥1056.5 (61.8% Fib), ¥1050.7 (key swing low), and ¥1040.6 (24-hour low). Resistance is seen at ¥1062.2 (high), ¥1065.0 (projected Fib extension), and ¥1068.0 (Bollinger Band upper). A long upper shadow at ¥1063.8 suggests potential near-term resistance.

Moving Averages

On the 15-minute chart, price closed above its 20-period and 50-period moving averages, indicating short-term bullish momentum. The daily 50-period MA is at ¥1047.5, with the 200-period at ¥1035.2, suggesting a strong long-term upward trend. The 100-period MA at ¥1049.1 reinforces the idea that LPTJPY is in a multi-day uptrend.

MACD & RSI

MACD turned positive mid-day and closed with a bullish crossover, indicating continued accumulation. RSI reached 71, entering overbought territory, but remains above 60, suggesting sustained momentum. Positive divergence in MACD relative to price suggests the rally may continue even with RSI overbought.

Bollinger Bands

Volatility expanded late in the day, with the Bollinger Band width reaching 12.5 basis points by 08:30 ET. Price closed near the upper band at ¥1060.1, indicating a continuation of the rally. A retest of the upper band and a possible breakdown of the channel may trigger a correction, but the overall trend remains intact.

Volume & Turnover

Volume and turnover spiked on the key high at ¥1063.8 and the low at ¥1040.6, showing conviction behind price extremes. The total volume of 4,075.16 units was well above the average 24-hour volume, suggesting strong market interest. A divergence in volume and price is not observed; the rally appears to be backed by increasing participation.

Fibonacci Retracements

Fibonacci retracement levels from the ¥987.6–1063.8 swing show critical levels at ¥1056.5 (61.8%) and ¥1053.0 (50%). The 61.8% level was tested and held at close. A breakdown below ¥1056.5 would target ¥1050.7 next. On the daily chart, the 50% Fib from ¥1035–1065 is at ¥1049.5, aligning with the 100-period MA.

Backtest Hypothesis

The described backtest strategy focuses on combining RSI overbought divergence with a MACD bullish crossover and volume confirmation. Applying this to the 09:00–10:00 ET period, when RSI reached overbought levels and MACD turned positive with increased volume, a short-term entry signal would have been generated. A stop-loss could be placed at the 61.8% Fib level at ¥1056.5, with a target near ¥1063.8. A successful execution would have captured the final push toward the 24-hour high, validating the strategy’s potential for short-term trend-following in a volatile market like LPTJPY.