Chainlink/Yen (LINKJPY) Market Overview for September 13, 2025

• • •

• LINKJPY surged above ¥3700, peaking at ¥3789 before consolidating below ¥3750.
• Momentum waned in late ET hours, with RSI showing signs of overbought conditions.
• Bollinger Bands widened post-¥3700, reflecting increased volatility.
• Volume spiked during ¥3750–¥3789 rally, confirming strength in recent gains.
• Candlestick patterns such as bullish engulfing and bearish hammers were visible during the 24-hour period.

Opening Observations

On September 13, 2025, at 12:00 ET, Chainlink/Yen (LINKJPY) closed at ¥3666, having opened the previous day at ¥3611. The pair reached an intraday high of ¥3789 and fell to a low of ¥3658 during the 24-hour window. Total volume traded was approximately 10,938.78 units, with notional turnover reaching roughly ¥40,739,320, based on the cumulative product of volume and price.

Structure & Formations

The 15-minute candlestick pattern showed several key formations. A bullish engulfing pattern emerged around ¥3670–¥3690, suggesting a potential reversal in bearish pressure. Later, a doji formed near ¥3730, indicating indecision in the market. A bearish hanger was visible at ¥3789, hinting at resistance holding strong. Key support levels identified were ¥3680 and ¥3660, while key resistances were ¥3750 and ¥3780.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages converged around ¥3700–¥3710, signaling a short-term equilibrium. On the daily chart, the 50-period and 100-period moving averages crossed near ¥3685, suggesting a possible bullish crossover. The 200-period SMA remained steady at ¥3670, acting as a baseline for medium-term trend analysis.

MACD & RSI

The MACD showed a bullish crossover around ¥3680–¥3700, indicating strengthening momentum. The RSI reached 74, signaling overbought conditions in the ¥3750–¥3780 range, which may lead to a short-term pullback. However, the RSI remains above 50, indicating overall bullish sentiment.

Bollinger Bands

Volatility expanded as prices moved from ¥3650 to ¥3789. The Bollinger Bands widened from approximately ¥3660–¥3680 to ¥3690–¥3790. Prices spent most of the day within the upper band, suggesting strength in the bullish phase. A consolidation near the middle band indicates potential for a break higher or a retest of key support levels.

Volume & Turnover

Volume spiked during the ¥3750–¥3789 rally, with notable buying activity between 09:00 ET and 10:00 ET, confirming the strength of the move. However, turnover began to contract after 13:00 ET, suggesting waning conviction. A divergence between price and volume emerged in the ¥3730–¥3750 range, indicating potential exhaustion in the bullish move.

Fibonacci Retracements

Applying Fibonacci to the ¥3610–¥3789 move, key retracement levels were ¥3714 (38.2%) and ¥3663 (61.8%). Prices found support at ¥3663 in the late ET hours, suggesting this level could serve as a key psychological floor. The ¥3714 level also acted as a resistance-turned-support in the morning.

Backtest Hypothesis

The backtest strategy under consideration involves entering long positions on LINKJPY when the 20-period and 50-period moving averages cross above the price in a bullish phase, confirmed by MACD crossover and RSI above 50. Exit signals are generated when the RSI closes below 50 or the price closes below the 20-period SMA, with a stop-loss placed at the nearest Fibonacci support level (61.8%). Given the recent bullish engulfing and MACD confirmation, this strategy may align well with the current setup, though a wait for a pullback to ¥3680–¥3690 could improve risk-reward.