Market Overview for Dogecoin/Yen (DOGEJPY) – 2025-11-13

Summary• DOGEJPY opened at ¥26.39 and closed at ¥27.08, with a 24-hour high of ¥27.44 and a low of ¥25.91.• Strong upward momentum confirmed by RSI above 60 and positive MACD divergence.• Volatility expanded with Bollinger Bands widening and volume increasing by 24% compared to 24 hours prior.

Dogecoin/Yen (DOGEJPY) opened at ¥26.39 (12:00 ET – 1), reached a high of ¥27.44 and a low of ¥25.91, before closing at ¥27.08 (12:00 ET) today. Total volume across the 24-hour period was 9,736,629 DOGE, with a notional turnover of ¥263,843,724 (sum of high × volume across the dataset). The price action reflected strong upward momentum, with a clear break above key resistance levels.

Structure & Formations

Key support levels appear to be forming in the ¥26.10–26.40 range, with a notable bearish engulfing pattern forming on the 15-minute chart at ¥25.91–26.13. On the upside, resistance levels are seen at ¥27.06–27.28, where a bullish reversal pattern could trigger further buying interest. A doji formed near ¥26.44, indicating indecision, but the subsequent bullish follow-through suggests strength above that level.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart are in an uptrend and have crossed above key price levels. On the daily chart, the 50-period moving average is beginning to cross above the 100- and 200-period lines, suggesting a potential continuation of the bullish bias into the next 24 hours.

MACD & RSI

The MACD line turned positive in the morning and showed a bullish divergence with price as it pulled back from ¥26.95 to ¥27.08. RSI-14 is currently at 62, suggesting moderate strength and indicating that DOGEJPY may not yet be overbought. A break above ¥27.44 could trigger a test of overbought territory near 70.

Bollinger Bands

Volatility increased significantly as the price moved away from the lower Bollinger Band into the upper band over the morning. The widening of the bands suggests growing conviction in the upward move. If the current momentum continues, the bands may contract slightly, indicating a potential consolidation phase.

Volume & Turnover

Volume spiked in the early morning hours as the price surged from ¥26.95 to ¥27.06. Notional turnover increased by approximately 24% compared to the previous 24-hour period, reinforcing the bullish breakout. The alignment of rising price and rising volume confirms strong buyer participation.

Fibonacci Retracements

Key Fibonacci levels on the 15-minute chart suggest that ¥27.06 (61.8% retracement) is a critical level for near-term action. A break above this could target ¥27.44–27.50, with the 78.6% level offering further upside potential. On the daily chart, a 50% retracement level at ¥26.77 may act as support if the move consolidates.

Backtest Hypothesis

Given the availability of RSI-14 and MACD data from the 15-minute chart, a potential backtest could be constructed using a combination of overbought/oversold RSI levels and MACD crossover signals. For example, a long signal could be triggered when RSI drops below 30 (oversold) and the MACD crosses above the signal line. A sell signal might follow when RSI exceeds 70 (overbought) and the MACD crosses below. This strategy could be further refined by incorporating Fibonacci retracement levels as stop-loss or take-profit targets. Since the recent price action has shown strong RSI and MACD alignment, this approach may offer viable entry points for traders over the next 24 hours.