Market Overview for Shiba Inu/Yen (SHIBJPY) – 2025-09-16

• Price fluctuated within a tight range, failing to break above 0.00193 or below 0.001905 in 24 hours.
• Volume surged around key turning points, with divergence noted between price and turnover in late hours.
• RSI signaled overbought conditions briefly, followed by a pullback into neutral territory.
• SHIBJPY tested multiple Fibonacci levels from 0.001905 to 0.001935, with mixed consolidation outcomes.

Shiba Inu/Yen (SHIBJPY) opened at 0.001919 on 2025-09-15 12:00 ET and reached a high of 0.001939 before closing at 0.001921 by 12:00 ET on 2025-09-16. The pair traded between 0.001939 and 0.001893 over the 24-hour period. Total volume amounted to 6.28 billion SHIB, with a notional turnover of approximately $1,196.63 million.

Structure & Formations

The SHIBJPY chart displayed a choppy consolidation pattern around the 0.001925–0.001915 range. A notable bearish engulfing pattern appeared at 0.001922 on the 2025-09-16 14:00 candle, signaling short-term bearish bias. Multiple doji formed between 0.001915 and 0.00192, indicating indecision among market participants. A key support level appears to have formed at 0.001915, while 0.001926–0.001927 acted as a dynamic resistance.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed into the 0.001919–0.001921 range by midday, aligning with the price action as it hovered near 0.00192. The 50-period MA remained slightly above the 20-period, suggesting a weak bearish bias. Daily moving averages showed a more neutral profile, with the 50- and 200-period lines overlapping near 0.001923, indicating a possible equilibrium zone for the pair.

MACD & RSI

The MACD line oscillated within a narrow range, with no clear directional bias emerging, suggesting a lack of strong momentum. The histogram showed contraction and expansion phases aligned with the price’s consolidation, with the signal line crossing the MACD line multiple times. RSI moved between 45 and 60 for most of the session, indicating neutral momentum. A brief overbought condition occurred at 0.001937 (RSI > 65), but failed to sustain.

Bollinger Bands

Price remained within the Bollinger Bands for most of the session, with the 20-period band width narrowing around midday, indicating a period of low volatility. A brief expansion occurred around 0.001927–0.001929 in the early hours of 2025-09-16, suggesting a short-term breakout attempt. Price closed near the middle band, with no clear bias toward either boundary.

Volume & Turnover

Volume surged at key turning points, especially during the 0.001925–0.001939 consolidation and the bearish engulfing pattern at 0.001922. Notional turnover spiked above $100 million several times, most notably during a bearish pullback at 0.001916. A divergence emerged between price and turnover during the late morning hours, with price dipping lower while turnover increased — suggesting potential short-term bearish continuation.

Fibonacci Retracements

Fibonacci levels were applied to the 0.001939–0.001893 swing, with the 38.2% level at 0.001925 and 61.8% at 0.001912. The price found resistance at the 38.2% level and support near the 61.8% level, forming a key consolidation zone. On a 15-minute chart, the pair tested 0.001932 (61.8%) and 0.001925 (38.2%) multiple times, with the 0.001923 level acting as a pivot point.

Backtest Hypothesis

Given the recurring Fibonacci retests and the neutral RSI readings, a mean-reversion strategy could be tested by entering short positions on retests of 0.001925 with a stop above 0.001931 and a target near 0.001915. A long bias may be considered on a break above 0.001927, with a stop below 0.001921. The low volatility and multiple doji suggest a strategy that capitalizes on range-bound conditions may offer favorable risk-reward. The 20-period MA crossing below the 50-period could signal an entry bias for bearish setups.