Market Overview for Chainlink/Yen (LINKJPY) on 2025-10-13

• Chainlink/Yen (LINKJPY) opened at ¥2,811 and closed at ¥3,018 after reaching a high of ¥3,030 and a low of ¥2,811 in 24 hours.
• Price surged above ¥3,000 for the first time in the session, driven by a breakout on the 15-minute chart near ¥2,980.
• RSI reached overbought territory above 70, while volume spiked in the final 6 hours, signaling potential exhaustion or continuation.
• Bollinger Bands showed a recent expansion, indicating increased volatility as the pair moved above the upper band.

The Chainlink/Yen (LINKJPY) pair opened at ¥2,811 on 2025-10-12 at 12:00 ET and closed at ¥3,018 by 12:00 ET the following day. The 24-hour session saw a high of ¥3,030 and a low of ¥2,811, with total traded volume of 3,687.85 and a notional turnover of ¥10,329,254.35. The price experienced a strong rally in the afternoon and evening hours, breaking above ¥3,000 with a final close near ¥3,018. The surge was supported by increasing volume, particularly in the final hours of the session.

Structure & Formations

LINKJPY exhibited a clear upward bias throughout the session, with key support levels forming around ¥2,880 and ¥2,900, both of which were successfully tested and broken. A bullish engulfing pattern emerged at the ¥2,880 level during the evening hours, which acted as a catalyst for the upward move. A doji formed near ¥2,920, indicating indecision, but it was quickly followed by a strong bullish breakout. Resistance levels are forming at ¥3,000 and ¥3,018, where price paused briefly before closing.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are both trending upward and are currently below the close price, suggesting bullish momentum. On the daily chart, the 50-period and 200-period moving averages appear to be converging upward, indicating a strong trend continuation is possible. The 100-period moving average remains well below the 200-period line, suggesting the trend has room to extend if bullish sentiment persists.

MACD & RSI

The MACD turned bullish late in the session, with both the MACD line and the signal line crossing above zero, reinforcing the upward momentum. RSI reached overbought levels above 70, indicating that the pair may face some short-term resistance near ¥3,030–¥3,040. However, RSI did not show signs of divergence from price, which suggests the bullish move could continue into the next 24 hours, especially if volume remains supportive.

Backtest Hypothesis

Due to the presence of a strong Bullish Engulfing pattern near ¥2,880 and a subsequent break above ¥3,000, a backtest strategy could involve entering long positions at the close of the engulfing candle, with a stop-loss just below the candle’s low and a take-profit near the 61.8% Fibonacci level of the upward move. Given that the data provider did not recognize the symbol "LINKJPY," this strategy could be tested using an alternative ticker like "LINKUSD" or "LINKUSDT," which are more commonly supported. If the user can provide historical LINK/JPY data in CSV format, the same strategy could be applied directly, ensuring accurate identification of the Bullish Engulfing patterns and testing the profitability across different timeframes.

Bollinger Bands

Bollinger Bands widened significantly in the last 6 hours of the session, reflecting the growing volatility associated with the breakout. The closing price of ¥3,018 exceeded the upper band, indicating a strong move that could lead to a continuation of the bullish trend. However, a retest of the ¥3,000–¥3,018 range is likely, especially given the RSI overbought condition. A return within the band would suggest caution, whereas a sustained move above the upper band would reinforce the bullish case.

Volume & Turnover

Volume increased significantly after 20:00 ET, with a large spike occurring just before the final breakout. This volume surge aligned with the price move, confirming the strength of the upward move. Turnover also increased in sync with the volume, indicating that the buying pressure was broad-based and not limited to a few large trades. A divergence between volume and price in the next 24 hours could signal a potential pullback, so close monitoring of this metric is advised.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing from ¥2,811 to ¥3,030, key levels to watch include ¥2,926 (38.2%) and ¥2,889 (61.8%). The 61.8% level appears to have acted as a support zone earlier in the session, and a retest of this level in the next 24 hours is likely. If the price holds above ¥2,889, the bullish case strengthens. A breakdown below this level could trigger a short-term correction.

The forward-looking view suggests that LINKJPY is likely to continue its upward bias in the near term, provided the ¥3,018 level holds as support and volume remains robust. However, investors should be cautious of potential overbought conditions and watch for signs of exhaustion, such as divergences in RSI or volume. A pullback into the ¥2,900–¥2,920 range may offer a consolidation opportunity before the next move. Investors should also be mindful of increased volatility and consider setting stop-losses near recent support levels to manage downside risk.