Market Overview: TRON/Yen (TRXJPY) 24-Hour Technical Review

Summary
• TRXJPY declined from 44.45 to 43.92 amid a bearish engulfing pattern and low volume consolidation.
• Momentum weakened with RSI below 30 and MACD bearish crossover, suggesting oversold conditions.
• Volatility expanded with a 44.45–43.93 range, but volume failed to confirm sharp moves in either direction.
• Bollinger Bands widened, with price near the lower band as turnover dipped below 300,000 Yen.
• Fibonacci 61.8% retracement at ~44.15 acted as a key support level during the afternoon sell-off.

At 12:00 ET−1 on December 23, TRON/Yen (TRXJPY) opened at 44.34 and traded as high as 44.49 before closing at 43.92 at 12:00 ET on December 24. The pair fell to a low of 43.93, with total volume of 148,134.61 TRX and a notional turnover of 6,391,193.82 JPY across the 24-hour period.

Structure suggests bearish control with a large engulfing candle on the 5-minute chart confirming the downward shift after the 00:15 ET−1 high. Key support levels were tested at the 61.8% Fibonacci (44.15) and 38.2% (44.29), with price failing to hold above either.

MACD crossed below the signal line in the morning, reinforcing bearish momentum, while RSI dipped into oversold territory by late afternoon, indicating potential for a short-term bounce. However, volume remained weak during the rally attempts, casting doubt on the strength of the recovery.

Bollinger Bands expanded as the price range widened, with TRXJPY settling near the lower band at the close. This volatility expansion, without a corresponding rise in volume, suggests a period of indecision among traders.

Looking ahead, a retest of the 44.21–44.25 zone may offer a near-term support cluster, but without a clear volume confirmation, a rebound could be short-lived. Investors should remain cautious ahead of potential news-driven volatility over the next 24 hours.