Market Overview: Sei/Yen (SEIJPY) 24-Hour Summary

Summary
• Price surged 5.7% from 17.93 to 18.22 amid strong volume and momentum.
• A bullish engulfing pattern formed near 18.07, followed by a break above 18.20.
• RSI crossed 60, suggesting rising bullish momentum but not yet overbought.
• Bollinger Bands widened after a contraction, reflecting increased volatility.
• Turnover spiked above $1.4M in late morning, confirming key resistance breaks.

At 12:00 ET-1, Sei/Yen (SEIJPY) opened at 17.93 and traded between 17.91 and 18.46 before closing at 18.22 by 12:00 ET. Total volume for the period was 628,443.0 with a notional turnover of $6.27M.

Structure & Formations

Price moved decisively higher after a bullish engulfing pattern at 18.07. A break above 18.20, followed by a 5-minute close at 18.22, suggests short-term bullish control. The 18.22 level acted as a temporary consolidation point but faces potential resistance at the 18.35–18.36 cluster seen in late afternoon trading.

Moving Averages

On the 5-minute chart, the price traded above both the 20 and 50-period SMAs, reinforcing an immediate bullish bias. Daily-moving averages are not calculated here but appear to have supported the recent directional shift.

Momentum Indicators

The RSI moved above 60, suggesting rising momentum but not yet entering overbought territory. MACD lines showed a positive divergence in the late morning hours, aligning with the breakout above key resistance.

Bollinger Bands

Volatility showed a contraction around 18.20, followed by a sharp expansion, with price closing near the upper band during the last hour. This expansion may indicate a continuation of the upward trend, though a reversal could occur if the upper band is tested again.

Volume and Turnover

Volume and turnover surged significantly in the 9:45–10:15 ET timeframe, with over $1.4M in turnover and high volume at 83,400. This volume confirmed a sharp move toward 18.44, suggesting strong conviction among buyers.

Fibonacci Retracements

Recent 5-minute swings suggest a 61.8% retracement level near 18.22, which coincided with the 12:00 ET close. This level may offer initial support, but further upward moves could target the 18.36–18.46 range.

Price appears to be entering a consolidation phase after a sharp rally, with strong buyer participation evident in late morning and afternoon trading. The coming 24 hours could see a test of the 18.36–18.46 cluster, but a pullback to 18.18–18.22 may occur if volatility increases. Investors should monitor volume behavior around key levels to assess the sustainability of the move.