Market Overview: SUIJPY 24-Hour Analysis

• SUIJPY declined by 8.9% over 24 hours, closing at 542.65, below key support levels
• Volatility spiked after 18:00 ET as price dropped from 588.29 to 542.65
• Volume surged to 12,403.68 at 15:30 ET during the sharp selloff
• RSI and MACD confirmed bearish momentum amid oversold conditions
• Bollinger Bands widened, showing high volatility and potential for a retracement

Sui/Yen (SUIJPY) opened at 585.42 on 2025-09-18 at 12:00 ET and closed at 542.65 on 2025-09-19 at 12:00 ET, marking a 7.3% decline. The 24-hour low reached 539.84 while the high was 588.29. Total volume was 381,383.52, with notional turnover reaching 209,624,069.64 units. A sharp sell-off unfolded from 18:00 ET, where price dropped more than 8% within 2.5 hours.

Structure & Formations

The 24-hour chart shows a bearish breakdown, with key support levels identified at 545 and 555. A strong rejection at 577.36 led to a bearish continuation. A bearish engulfing pattern formed on the 15-minute chart at 18:30 ET, confirming downward momentum. A large bearish candle at 22:15 ET (close at 577.87) marked a 3.9% drop in a single interval, indicating strong selling pressure.

Moving Averages

On the 15-minute chart, price closed below both the 20SMA and 50SMA, confirming a short-term bearish bias. The 50-period line crossed under the 20-period line, forming a death cross. On the daily timeframe, the 50DMA at 588.30 and the 200DMA at 583.25 were both broken, reinforcing a medium-term bearish setup.

MACD & RSI

MACD turned negative around 19:00 ET, aligning with the price drop, while the histogram showed a clear bearish divergence. RSI fell into oversold territory below 30 by 10:00 ET and remained there for most of the session, indicating exhaustion in the bearish move and potential for a short-term bounce.

Bollinger Bands

Volatility expanded significantly from 18:00 to 10:00 ET as the bands widened. Price closed near the lower band at 12:00 ET, indicating a strong bearish bias. A bounce from the lower band may signal a short-term reversal, but a retest of the lower band could continue the downtrend.

Volume & Turnover

Volume spiked to 12,403.68 at 15:30 ET as price hit a 24-hour low. This high volume at the bottom suggests accumulation or short-term capitulation. Notional turnover also spiked during the same period, aligning with the price action and confirming the strength of the selloff.

Fibonacci Retracements

On the 15-minute chart, the decline from 588.29 to 539.84 reached 61.8% at 557.36, indicating a possible intermediate support level. A retest of this level could trigger further selling or a countertrend bounce. The daily chart’s 61.8% retracement is at 559.63, which may act as a potential short-term floor.

Backtest Hypothesis

A backtest strategy based on RSI divergence and Bollinger Band retests could be viable. When RSI shows a bearish divergence and price closes near the lower Bollinger Band, a short bias may be taken with a stop above the upper band. The recent move from 588.29 to 542.65 shows this pattern aligns well with the technical indicators discussed.