Market Overview for Shiba Inu/Yen (SHIBJPY)

• Shiba Inu/Yen (SHIBJPY) opened at ¥0.002017 and closed at ¥0.001938 over the past 24 hours, with a high of ¥0.002043 and a low of ¥0.00191.
• Price action showed a bearish breakdown with a 3.7% decline, marked by a strong bearish engulfing pattern in the morning session.
• Volatility increased sharply after 09:00 ET, with a peak in volume and turnover as price moved below ¥0.002010 support.
• RSI signaled oversold conditions by the close, while MACD remained bearish with a narrowing histogram.
• Bollinger Bands widened during the breakdown, confirming increased volatility as price tested lower levels.

Shiba Inu/Yen (SHIBJPY) opened at ¥0.002017 on 2025-09-14 at 12:00 ET and closed at ¥0.001938 by 12:00 ET on 2025-09-15. The pair reached a high of ¥0.002043 and a low of ¥0.00191. Total volume for the 24-hour period was 6,117,579,470.0 SHIB, while total turnover amounted to approximately ¥12,338,182. The asset showed significant bearish momentum, especially in the late afternoon session.

Structure & Formations

Price action was defined by a strong bearish trendline and a notable bearish engulfing pattern that formed around 16:00 ET as the pair fell sharply from ¥0.002021 to ¥0.002009. A key support level at ¥0.002010 was broken and failed to hold, allowing price to fall further. A 61.8% Fibonacci retracement level from ¥0.002043 to ¥0.001910 sat at ¥0.001958, which was tested and rejected, signaling further bearish bias. A potential short-term support appears to be forming around ¥0.001920–0.001925, which may hold for now.

Moving Averages

On the 15-minute chart, the 20- and 50-period moving averages are aligned below the price, indicating a short-term downtrend. The 50-period MA is below the 100- and 200-period lines on the daily chart, reinforcing the bearish bias. Price is trading significantly below the 200-period MA, suggesting a continuation of the bearish momentum is more likely than a reversal in the near term.

MACD & RSI

The MACD remains negative with a narrowing histogram, indicating that bearish momentum is slowing. The RSI has dropped to oversold territory near 28 by the close, raising the possibility of a short-term bounce. However, this does not negate the larger bearish trend, and a failure to close above ¥0.001958 would likely extend the downtrend.

Bollinger Bands

Bollinger Bands expanded significantly during the afternoon and evening sessions, reflecting increased volatility as price moved lower. Price closed near the lower band, suggesting a potential oversold condition, though without a clear reversal pattern, this may not be a strong bullish signal.

Volume & Turnover

Volume and turnover spiked sharply in the afternoon, especially between 19:00 and 22:00 ET, when price dropped from ¥0.002030 to ¥0.002010. This strong bearish divergence between price and volume confirms the breakdown. However, in the final hours of the 24-hour period, volume declined as price stabilized, suggesting short-term exhaustion.

Fibonacci Retracements

Applying Fibonacci levels to the major swing high (¥0.002043) and low (¥0.001910), the 61.8% level at ¥0.001958 acted as resistance but was rejected. A retest of this level may occur in the next 24 hours. On the 15-minute chart, a retracement from ¥0.002043 to ¥0.002010 shows the 50% level at ¥0.002026, which was previously a key level of consolidation.

Backtest Hypothesis

The backtest strategy described aims to capture medium-term trend continuation using a combination of moving average crossovers and RSI filters. A long position is triggered when the 50-period MA crosses above the 100-period MA on the daily chart, and RSI is above 50. A short position is initiated when the 50-period MA crosses below the 100-period MA and RSI is below 50. Stop-loss is placed at the most recent swing low/high, and a take-profit is set at 1.5x the risk. Given the current bearish bias and the 50/100 MA crossover being negative, this strategy would currently signal a short bias. If the trend persists, this approach may prove effective in capturing the ongoing bearish momentum.