Market Overview for Dai/Yen (DAIJPY) – 24-Hour Analysis

Summary
• DAIJPY broke below 156.00, reaching 155.53 during a high-volume selloff.
• Momentum shifted bearish as RSI dipped below 30 and MACD crossed under the signal line.
• Bollinger Bands expanded sharply, confirming increased volatility following a consolidation phase.
• Volume surged during the 04:45–05:00 ET window, confirming bearish continuation.
• A key support at 155.65 was tested and breached, with no immediate signs of a reversal.

DAIJPY opened at 156.11 (12:00 ET − 1), peaked at 156.27, and closed at 155.12 (12:00 ET) with a 24-hour low of 155.30. Total volume reached 265,263.29 and turnover summed to approximately 41.9 million JPY, marking a spike in bearish activity after mid-overnight trading.

Structure & Formations

Price action revealed a strong bearish bias, with a key support level at 155.65 breaking decisively on heavy volume. A large bearish engulfing pattern formed between 04:45 and 05:00 ET, followed by a long bearish candle at the 05:45 interval. A doji near 155.75 suggested brief indecision but failed to trigger a meaningful rebound.

Moving Averages

The 20- and 50-period moving averages on the 5-minute chart remain in a steep downward convergence, reinforcing bearish momentum.

The daily 50/100/200 SMA setup shows a prolonged downtrend with price still well below all key moving averages.

MACD & RSI

MACD turned sharply negative after 04:45 ET, with the histogram showing expanding bearish momentum. RSI dipped below 30 into oversold territory during the 05:00–06:00 ET session, but no immediate reversal is evident. A bearish crossover in the MACD line has taken hold, indicating continuation of the downward trend.

Bollinger Bands

Bands expanded significantly during the 04:45–06:00 ET period, aligning with the breakout of key support. Price has since remained near the lower band, suggesting continued bearish pressure and high volatility.

Volume & Turnover

Volume surged during the 04:45–05:45 ET window, confirming the bearish breakout. Notional turnover increased in line with volume, with no signs of divergence. This suggests strong conviction in the downward move.

Fibonacci Retracements

A major 5-min retracement level at 61.8% (around 155.65–155.70) was tested and then decisively broken. On the daily chart, the pair may now target the 38.2% retracement level near 154.30 if the bearish trend continues.

Price appears to be in a confirmed bearish phase with key support now at 155.30. A rebound to 155.65 could test buying interest, but failure to hold above that level may see further declines. Investors should remain cautious of extended bearish momentum and potential for a short-term rebound.