Market Overview for Shiba Inu/Yen (SHIBJPY) on 2025-09-10

• SHIBJPY broke above 0.001900 with a bullish engulfing pattern on 2025-09-10 08:15 ET.
• Price traded within a tightening Bollinger Band range ahead of the breakout.
• RSI reached oversold levels earlier in the day, suggesting a potential reversal.
• Volume spiked during the 08:15–09:30 ET window, confirming the upward move.
• 24-hour turnover was 973,181,864.0 JPY, with total volume of 9,736,186,069 SHIB.

At 12:00 ET on 2025-09-10, SHIBJPY opened at 0.001883 JPY and closed at 0.001911 JPY, with a high of 0.001932 JPY and a low of 0.001872 JPY. Total volume across the 24-hour period was 9,736,186,069 SHIB, and total turnover was 973,181,864.0 JPY. The pair saw increasing bullish momentum and volatility over the last 24 hours.

Structure & Formations

The 15-minute candles revealed a clear bullish bias from early in the session. A bullish engulfing pattern formed on the candle starting at 2025-09-10 08:15 ET, marking a key reversal from the morning’s bearish trend. Price action showed strong support around the 0.001890–0.001895 JPY range, which was tested multiple times during the early part of the session. Resistance levels became more significant after 08:00 ET, particularly at 0.001910–0.001915 JPY, where price consolidated before pushing higher. A doji appeared at 2025-09-10 10:15 ET, suggesting a potential pause in the upward trend as buyers and sellers became more evenly matched.

Moving Averages

On the 15-minute chart, the 20-period MA (0.001899 JPY) crossed above the 50-period MA (0.001894 JPY) shortly after 08:00 ET, signaling a bullish crossover. The 50-period MA, in turn, crossed above the daily 100-period MA at around 10:00 ET, reinforcing the strength of the bullish momentum. The 200-period daily MA currently sits at 0.001887 JPY, below the current price, indicating a longer-term positive trend.

MACD & RSI

The MACD line turned positive after 08:00 ET, with the histogram showing increasing bullish momentum. The signal line crossed below the MACD line at 08:15 ET, indicating a potential continuation of the bullish move. The RSI indicator reached oversold levels (~30) just before the breakout, suggesting the pair was due for a reversal. After the upward move, the RSI climbed into overbought territory (~70), indicating a possible slowdown or consolidation ahead.

Bollinger Bands

Volatility was generally contained within a tight Bollinger Band range until 08:15 ET, when price broke above the upper band. This breakout was confirmed by a sharp increase in volume and closing above the upper band. The narrowing of the bands earlier in the session suggested a period of consolidation, followed by a strong breakout that pushed price higher. Price has since traded within a new, widening range, suggesting increased volatility and potential continuation.

Volume & Turnover

Volume surged during the breakout window (08:15–09:30 ET), peaking at over 771,705,43 SHIB and 736,159,843 JPY in turnover. The increase in volume aligns with the upward price action, offering confirmation of the bullish move. However, after 10:00 ET, volume began to taper off despite continued price gains, which may hint at a potential pullback or consolidation in the near term.

Fibonacci Retracements

Applying Fibonacci retracements to the key move from 0.001872 JPY to 0.001932 JPY, the 38.2% level (~0.001895 JPY) and 61.8% level (~0.001910 JPY) were both touched or traded through during the session. Price tested the 38.2% level multiple times before pushing higher. The 61.8% level coincided with the consolidation zone after the breakout, and price appears to have found strong support and momentum there.

Backtest Hypothesis

A backtesting strategy could be built around the bullish engulfing pattern and MACD crossover signals seen on the 15-minute chart. Entering a long position after the candle confirmed the engulfing pattern (2025-09-10 08:30 ET) with a stop-loss placed just below the 0.001895 JPY support level could have captured most of the upward move. The MACD crossover and RSI divergence from oversold to overbought levels further confirmed the strategy’s validity. Future iterations might explore varying the stop-loss and target levels based on Bollinger Band or Fibonacci retracement levels.