Market Overview for Pepe/Yen (PEPEJPY): Bullish Momentum with Key Resistance in Sight

• • •

• Price advanced by 24-hour high of ¥0.001523, rebounding from support near ¥0.001460–0.001470.
• Volume surged during the rally, peaking at ¥0.001492–0.001513, confirming bullish momentum.
• RSI and MACD showed positive divergence, suggesting potential for further gains.
• Bollinger Bands narrowed ahead of a breakout, signaling increased volatility.

24-Hour Performance and Context

Pepe/Yen (PEPEJPY) opened at ¥0.001457 on 2025-10-02 at 12:00 ET and reached a high of ¥0.001523 during the day, closing at ¥0.001469 on 2025-10-03 at 12:00 ET. The pair saw total volume of 13.8 billion and notional turnover of 20.3 billion yen over the 24-hour window, with significant activity concentrated between ¥0.001490 and ¥0.001515. The price action suggests a bullish reversal from a multi-hour consolidation pattern.

Structure & Formations

The candlestick structure over the 24-hour period showed a strong bullish breakout after a consolidation phase between ¥0.001470 and ¥0.001495. A key support zone emerged around ¥0.001460–0.001470, where the price found a floor twice, forming a potential base for a longer-term bullish scenario. Notable patterns include a bullish engulfing pattern at ¥0.001492–0.001512 and a bullish harami on the final candle of the day, suggesting a continuation of the upward trend.

Moving Averages and Momentum

On the 15-minute chart, the 20-period and 50-period moving averages are both sloping upward, confirming a bullish bias. The 50-period MA sits near ¥0.001490, acting as dynamic support, while the 20-period MA is closer to the current price. The RSI is in overbought territory at 68–70, indicating strong momentum, and the MACD is above the signal line with a positive histogram, supporting further upside potential.

Bollinger Bands and Volatility

Volatility increased sharply as the price moved from ¥0.001490 to ¥0.001515. The upper Bollinger Band was pierced on several occasions, particularly during the 19:15 to 20:45 ET window, confirming a breakout. The lower band sat around ¥0.001470 and acted as a strong support during late trading. Price has since pulled back slightly into the upper half of the bands, indicating that volatility remains elevated and could continue to support higher highs.

Volume and Turnover

Volume spiked during the breakout from ¥0.001490–0.001515, with the highest 15-minute volume reaching 2.1 billion yen. Turnover also increased significantly, aligning with price action and confirming the strength of the rally. A divergence between the final 15-minute candle’s volume and the close suggests a potential pullback may be near, though the overall bullish sentiment is still intact.

Fibonacci Retracements

The key Fibonacci levels from the recent swing low at ¥0.001465 to the high at ¥0.001523 include 38.2% at ¥0.001494 and 61.8% at ¥0.001509. The price has bounced off the 38.2% level and is currently approaching the 61.8% level, which could act as resistance. If the price breaks above ¥0.001509 with strong volume, it may target ¥0.001520–0.001525 next. A failure to hold above ¥0.001494 could trigger a retest of the ¥0.001470–0.001465 support zone.

Backtest Hypothesis

Given the recent price behavior, a backtest strategy focused on breakout patterns within the ¥0.001470–0.001515 range could be tested. Entering long on a close above ¥0.001509, with a stop-loss just below ¥0.001490 and a take-profit at ¥0.001518–0.001525, would align with the observed support/resistance levels and momentum indicators. This approach leverages both price action and technical confirmation to manage risk while capturing potential upside. The MACD and RSI suggest the move remains in early stages, making this a viable strategy for the next 48 hours.