BNB/Yen Market Overview: Volatility and Reversals Define 24-Hour Move

• BNB/Yen posted a 24-hour high of 151644 JPY and a low of 150749 JPY, closing at 156039 JPY.
• Momentum reversed post-17:45 ET with a 4.4% 90-minute gain.
• Volatility spiked after 21:45 ET, with a 3.5% range in 15 minutes.
• Volume surged 500% in the 00:00–01:30 ET window.
• A bullish engulfing pattern formed near 151231 JPY during the 16:30–17:00 ET period.

Market Activity and Price Action

BNB/Yen opened at 151034 JPY on 2025-09-20 at 12:00 ET and closed at 156039 JPY on 2025-09-21 at 12:00 ET, reaching an intraday high of 151644 JPY and a low of 150749 JPY. The total 24-hour volume traded amounted to 1,434.9942, while the total turnover was approximately 217.38 million JPY. Price action featured a strong reversal from early bearish pressure, with a notable bullish move post 21:45 ET, forming a key 151231 JPY support level.

Structure & Key Levels

The price found key support at 151231 JPY and 154616 JPY, both areas showing strong buying pressure. Resistance emerged at 154616 JPY and again near 155289 JPY. A bullish engulfing pattern formed near the 151231 JPY level, suggesting a potential reversal in sentiment. A doji formed around 153782 JPY during the 23:15 ET session, indicating indecision and potential consolidation ahead of the next leg up.

Momentum and Volatility Indicators

The 20-period and 50-period moving averages on the 15-minute chart crossed in favor of the 20-period line, indicating short-term bullish momentum. The MACD crossed above the signal line in the 22:00–23:30 ET window, confirming a bullish crossover. The RSI moved into overbought territory during the 02:00–04:00 ET window but remained above 60 for most of the session, suggesting continued bullish energy.

Bollinger Bands widened significantly after 21:45 ET, indicating a period of increased volatility. Price action stayed above the 20-period moving average for most of the session, suggesting continued long-term strength.

Volume and Turnover Analysis

Volume spiked dramatically in the 00:00–01:30 ET period, with a 500% increase from the prior 15-minute window. This was accompanied by a 4.4% price gain, suggesting strong conviction in the move. However, volume declined slightly during the 04:00–05:00 ET window despite a 3.5% price move, indicating potential exhaustion.

Notional turnover closely followed price movement, with a 15-minute window reaching 4.1 million JPY. Divergence between price and volume was observed between 04:00–05:00 ET, which could signal a potential pullback.

Fibonacci Retracements

Applying Fibonacci retracements to the 151231–151576 JPY swing, the 61.8% level sits at 151425 JPY, which coincided with a key support level during the 16:45 ET period. On the broader 151034–151576 JPY move, the 38.2% retracement level at 151303 JPY acted as a minor resistance. These levels may offer traders potential entry and exit points in the next 24 hours.

Backtest Hypothesis

The described backtesting strategy focuses on identifying short-term bullish signals based on the convergence of bullish engulfing patterns, Bollinger Band breakouts, and a 50-period moving average crossover. The data supports this approach, as a bullish engulfing pattern formed near 151231 JPY, followed by a breakout above the upper Bollinger Band after 21:45 ET. A 50-period moving average crossover also confirmed the bullish momentum. This suggests that the strategy could have captured a key upward move during this session.