Market Overview for BNB/Yen (BNBJPY): 24-Hour Technical Summary

• BNB/Yen traded with a bearish bias, closing near session low as volume waned in late hours.• Price tested a key resistance area around ¥169,000 but failed to sustain above, indicating short-term weakness.• RSI signaled overbought conditions early, diverging from bearish price action, hinting at potential reversal.

BNB/Yen (BNBJPY) opened at ¥168,241 on 2025-11-01 12:00 ET, hitting a high of ¥169,218 and a low of ¥165,120 before closing at ¥165,487 on 2025-11-02 12:00 ET. Total volume reached 307.7815 BNB, with turnover of ¥52,058,334.62. The session saw bearish momentum, especially after ¥168,500, where price broke below key support levels.

Structure & Formations

Price action formed multiple bearish patterns, including a dark cloud cover near ¥169,000 and a hanging man near ¥168,500. Key resistances were identified around ¥168,900 and ¥169,200, both of which failed to hold as price fell below. On the lower end, support was briefly tested at ¥166,000 and ¥165,500, with the latter showing some buying interest but not enough to reverse the trend.

Moving Averages

On the 15-minute chart, the 20-period moving average crossed below the 50-period MA, forming a death cross. This reinforced the bearish bias. On the daily chart, the 50-day MA crossed below the 100-day and 200-day MAs, signaling a longer-term downtrend is in place.

MACD & RSI

The MACD line dipped into negative territory, with a bearish crossover forming on the 15-minute chart. RSI peaked above 70 early in the session, showing overbought conditions that were not followed through by price. The divergence between RSI and price action suggests a potential reversal in near-term momentum.

Bollinger Bands

Price broke out of the upper band at the start of the session, but this failed to hold, and the pair quickly drifted back into the lower half of the band. The narrowing of the bands in the late afternoon suggested a contraction in volatility before a sharp drop below the 20-period SMA. This indicates a low-probability setup for a short-term bounce.

Volume & Turnover

Volume was highest early in the session, peaking around ¥169,000, but declined significantly after ¥168,500 as selling pressure intensified. Turnover also mirrored this trend, with a sharp drop-off observed in the late afternoon as price fell below ¥168,000. The divergence between volume and price suggests weakening conviction in the bullish narrative.

Fibonacci Retracements

Recent swings from ¥168,241 to ¥169,218 saw a retest of the 61.8% Fibonacci level at ¥168,500, which failed to hold. On the bearish leg from ¥169,000 to ¥165,120, the 50% retracement level at ¥166,560 provided some resistance before price continued lower. This suggests a likely extension toward ¥165,000–¥164,000 if the trend persists.

Backtest Hypothesis

Given the observed bearish momentum and divergences in RSI and MACD, a backtesting strategy could be constructed around entries following a MACD bearish crossover and RSI confirming oversold conditions. However, with the current trend showing strong bearish bias and limited volume on the downside, a 15-minute holding period strategy—especially with entries on synthetic BNBJPY—might be most effective. If using BNBUSD converted to JPY via USDJPY rates, the entry timing would need to account for the FX lag. A 15-minute hold with exits based on a trailing stop or fixed time horizon could be explored, depending on the risk appetite and speed of execution required.