Market Overview for BNB/Yen (BNBJPY) – 2025-10-06

• BNB/Yen rose 7.3% over 24 hours, reaching a high of ¥185,657 before retracting slightly near ¥184,101.
• Momentum accelerated midday with MACD and RSI suggesting strong bullish energy, pushing above key resistance levels.
• Volatility expanded through the session, as seen in wide Bollinger Bands, with heavy volume clustering in ¥180,000–¥185,000 range.
• Price rejected ¥170,000 support early but found buyers again after a bullish engulfing pattern formed near ¥170,000–¥172,503.
• Turnover surged to ¥8.4M by 12:00 ET, confirming the uptrend, though volume diverged from price during late retracements.

BNB/Yen opened at ¥171,153 on 2025-10-05 at 12:00 ET and reached a high of ¥185,657 before closing at ¥184,101 at 12:00 ET on 2025-10-06. The 24-hour period saw total volume of 1,123.13 BNB and a notional turnover of ¥186.39 million, signaling heightened liquidity and investor interest.

The price moved in a sharp bullish thrust from ¥171,153 to ¥185,657, driven by a strong volume surge in the midday session. Key support levels were seen at ¥170,000 and ¥169,995, both of which held in early retracements. A bullish engulfing pattern formed between ¥170,000 and ¥172,503, suggesting a shift in sentiment. Resistance levels emerged at ¥180,000 and ¥185,000, both of which were tested and briefly broken. The candlestick formations suggest a possible continuation of the uptrend if ¥182,000 holds.

Moving averages on the 15-minute chart showed a clear uptrend, with the 50-period and 20-period lines both in bullish alignment. On the daily chart, the 50-period line crossed above the 200-period line, indicating a long-term bullish bias. Bollinger Bands expanded significantly during the morning session, reflecting increased volatility and a breakout potential. The price spent most of the session outside the upper band, suggesting strong momentum.

The MACD (12,26,9) showed a positive divergence with a clear bullish crossover in the morning, confirming the strength of the move. RSI hit overbought territory near 75, indicating aggressive buying but also potential exhaustion. This suggests that while the trend is strong, a short-term pullback could be due, especially if volume declines. Fibonacci retracement levels on the 15-minute chart highlighted key psychological levels at 61.8% (¥176,300) and 38.2% (¥179,500), which could offer support or resistance during corrections.

Backtest Hypothesis
A potential trading strategy could involve entering long positions on confirmation of a bullish engulfing pattern at key support levels, with a stop-loss placed just below the pattern’s low. A take-profit target could be set at the next Fibonacci level or major resistance. Given the strong RSI and MACD signals, this setup could be filtered to only include trades that occur after a clear break of the 50-period moving average on rising volume. Historical testing would be necessary to refine risk-reward parameters, but the recent behavior of BNB/Yen suggests this could be a viable approach during extended bullish phases.