Market Overview for Dogecoin/Yen (DOGEJPY): 2025-10-13

• Dogecoin/Yen traded in a volatile 24-hour range between ¥30.73 and ¥32.68, closing near session highs.
• A notable bullish reversal emerged after a sharp intraday decline, signaling potential short-term momentum.
• Elevated volume and turnover confirmed the strength of key price levels, especially near ¥32.10–¥32.30.
• Volatility expanded during late ET hours, with price breaking above prior resistance on strong volume.
• A bearish divergence in price and volume flagged near ¥30.8–¥31.28, suggesting cautious positioning.

The DOGEJPY pair opened at ¥30.92 on October 12, 2025, and closed at ¥32.11 on October 13, 2025, after a 24-hour range that extended from ¥30.73 to ¥32.68. The session featured a total volume of 15,859,425 DOGE and a notional turnover of ¥496,300,117, reflecting heightened trading activity. Price action showed a bearish breakdown and subsequent bullish bounce, with a strong rejection at ¥31.28 and a decisive break of ¥32.10–¥32.30.

Structure & Formations

DOGEJPY showed a key support zone at ¥31.28–¥31.55, where price found several bounces following intraday selloffs. A bullish engulfing pattern formed at the ¥31.28–¥31.54 level during the evening ET hours, followed by a breakout to ¥32.11. A notable bearish divergence appeared in volume at ¥30.8–¥31.28, indicating a potential exhaustion of short-term buyers. Further resistance appears at ¥32.45–¥32.61, which price may test in the near term.

Moving Averages

On the 15-minute chart, price traded above the 20-period and 50-period moving averages for much of the session, reinforcing a bullish bias. The 20-period MA crossed above the 50-period MA, forming a golden cross, while the 50-period MA remained above ¥31.65–¥31.70. On the daily chart, the 50-period MA sits near ¥31.80, and the 200-period MA is at ¥31.50, suggesting a longer-term consolidation phase after recent volatility.

MACD & RSI

The MACD line crossed above the signal line during the late ET hours, confirming a bullish crossover. Positive divergence emerged in the indicator as price pulled back and then surged past ¥32.00. The RSI (14) showed overbought conditions above 65 in the final hours of the session, indicating a potential near-term pullback. However, the sustained strength in volume suggests that bullish momentum may continue.

Bollinger Bands

Price traded near the upper Bollinger Band for several hours, particularly from 06:00–10:00 ET, signaling an expansion in volatility. The bands widened after a period of consolidation between ¥31.28–¥31.80, and price broke out to the upper side. If volatility continues to expand, the upper band could serve as a dynamic resistance level near ¥32.40–¥32.60.

Volume & Turnover

Volume surged during the breakout to ¥32.10–¥32.30, with several 15-minute candles recording over 300,000 DOGE traded. The highest turnover occurred between ¥32.10–¥32.30, with a spike at ¥32.27–¥32.38. A divergence between price and volume at ¥30.8–¥31.28 suggested cautious positioning. Continued volume expansion above ¥32.20 would confirm the breakout's validity.

Fibonacci Retracements

On the 15-minute chart, the ¥31.28–¥32.43 swing saw price retest the 61.8% retracement level near ¥31.85–¥31.90 before surging higher. On the daily chart, the ¥31.40–¥32.68 move has a 50% retracement at ¥32.04 and a 61.8% retracement at ¥31.94. These levels are likely to be key zones for near-term consolidation or reversal.

Backtest Hypothesis

A backtest strategy based on the breakout above ¥32.10–¥32.30 and confirmation from strong volume could be tested with a long bias on a retest of ¥32.10–¥32.30. Given the recent bullish momentum and a confirmed golden cross on the 15-minute chart, a strategy using a moving average crossover combined with volume confirmation would be worth evaluating. However, DOGEJPY is not consistently recognized by most data sources, and alternative symbols such as DOGE-USD could be used for backtesting, with returns translated to JPY using the USD/JPY exchange rate. Confirming the correct ticker symbol is critical for accurate historical testing and strategy development.