Market Overview for Dai (DAIJPY) – July 24, 2025

Summary
• Dai consolidates near key support at 146.32–146.43 on DAIJPY, with bearish momentum waning.
• Price tests 146.8–146.85 resistance multiple times but fails to break through.
• Volume spikes above 3,000 JPY at 146.8–147.03, indicating short-term resistance.
• MACD shows divergence, suggesting potential reversal ahead of 147.03.
• Bollinger Bands contract in the early hours, hinting at a potential breakout.

Dai (DAIJPY) opened at 146.63 on July 23 at 12:00 ET, reached a high of 147.03, and closed at 146.80 at 12:00 ET on July 24, with a low of 146.11. Total volume for the 24-hour period was 36,000.00 JPY, and notional turnover was ~5.2 million JPY.

Structure & Formations

Price action over the 24-hour period shows multiple attempts to break above the 146.8–147.03 range, with a bullish engulfing pattern forming at 146.85–147.03. A key support zone emerged between 146.32–146.43, where price found a floor after an early morning sell-off. A doji formed near 146.58–146.61, signaling indecision.

Moving Averages

On the 15-minute chart, the 20-period moving average (SMA20) hovered near 146.65–146.75, while the 50-period (SMA50) remained slightly above at 146.75–146.85. On the daily chart, the 50-period and 200-period (SMA200) lines were aligned near 146.50–146.60, indicating a neutral to slightly bullish bias.

MACD & RSI

The MACD line showed a bearish crossover in the morning, but a bullish divergence emerged in the late afternoon as price rallied above 146.70. RSI values fluctuated between 45–60, avoiding overbought or oversold territory. A slight oversold reading at 146.32–146.43 preceded a rebound, suggesting traders may be accumulating on dips.

Bollinger Bands

Bollinger Bands tightened in the early hours, signaling a period of consolidation. As the day progressed, the bands expanded, with price testing the upper band at 146.8–147.03 and the lower band at 146.32–146.43. Price remained within the bands for most of the session, indicating controlled volatility.

Volume & Turnover

Volume spiked above 3,000 JPY at 146.8–147.03, coinciding with the failed breakout attempt. Notional turnover also increased during this period, suggesting increased participation. However, volume remained below average during the consolidation phase, indicating limited conviction in the current direction.

Fibonacci Retracements

Applying Fibonacci levels to the key swing from 146.11 to 147.03, the 61.8% retracement level sits at 146.68–146.70, which aligns with recent support. The 38.2% level at 146.55–146.57 also acted as a temporary floor.

While Dai appears to be consolidating near key support and resistance levels, the MACD divergence and volume dynamics suggest a potential reversal may be on the horizon. Traders should watch for a breakout above 147.03 or a breakdown below 146.43 in the next 24 hours, though volatility remains moderate and a sideways pattern could persist.