Market Overview: Sui/Yen (SUIJPY) 24-Hour Technical Analysis

Summary
• Price formed a bearish engulfing pattern near 222.32, suggesting potential short-term bearish momentum.
• Volatility spiked in the early session, with a large range of 222.88 to 219.78 observed.
• RSI signaled overbought conditions multiple times, failing to confirm bullish breakouts.
• SUIJPY remained within a contracting Bollinger Band range until 10:00 ET, followed by a breakout.
• A key support level appears to be forming around 219.08, with 61.8% Fibonacci retrace support at 218.72.

SUIJPY opened at 221.51 on 2025-12-24 at 12:00 ET, reaching a high of 222.88 and a low of 217.92, closing at 219.28 at 12:00 ET on 2025-12-25. Total volume across the 24-hour period was approximately 92,868.62 units, with turnover reaching ~¥19,669,960.

Structure & Formations

The price action showed a strong bearish reversal with a bearish engulfing pattern forming around 222.32, which coincided with a failed bullish breakout. A large doji formed near 221.08, signaling indecision and potential reversal. A key support level appears to be consolidating around 219.08 with confirmation from both Fibonacci and volume clustering.

Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages crossed to the downside in the early morning, reinforcing bearish momentum. The daily chart shows the 50-period MA below the 100- and 200-period lines, suggesting a longer-term bearish bias.

MACD & RSI

MACD remained in negative territory, with a bearish crossover observed before the key 222.32 reversal. RSI frequently entered overbought territory but failed to produce strong bullish follow-through, indicating a lack of conviction among buyers.

Bollinger Bands

The price spent much of the early session within a tight Bollinger Band range, which widened dramatically after 08:30 ET. The 20-period band expansion coincided with a breakout from 221.2 to 219.87, indicating a rise in volatility and potential for further directional movement.

Volume & Turnover

Volume surged during the morning hours, particularly around 08:30 ET when a large candle formed with high turnover and a 219.87 close. This volume confirmed the bearish breakdown. However, volume during the late session remained muted, suggesting a potential pause in momentum.

Fibonacci Retracements

Applying Fibonacci levels to the recent 5-minute swing from 222.88 to 217.92, 61.8% retrace support was found at 218.72, which the price tested and bounced off. The 38.2% level at 219.6 appears to be a minor support, offering a potential short-term floor.

Price may test 218.72 as a key psychological level over the next 24 hours, with a potential continuation of bearish momentum if the support fails. Investors should remain cautious for increased volatility and sudden divergence between price and volume.