Market Overview for Dogecoin/Yen (DOGEJPY) on 2025-12-15

Summary
• DOGEJPY experienced a sharp selloff late afternoon, hitting a 24-hour low of 20.47 Yen.
• A bearish engulfing pattern formed near 20.75 Yen, signaling potential short-term continuation of downward momentum.
• Volatility expanded significantly in the last 90 minutes, with turnover spiking above 239 million Yen.
• RSI crossed into oversold territory, but volume failed to confirm, suggesting possible divergence.
• Key support appears to be holding at 20.61–20.73 Yen, with a 61.8% Fibonacci retracement at 20.85 Yen.

Dogecoin/Yen opened at 21.14 Yen on 2025-12-14, reached a high of 21.59 Yen, and closed at 20.73 Yen on 2025-12-15. Total volume for the 24-hour period was 1.42 million DOGE, with notional turnover exceeding 24.9 million Yen.

Structure & Formations

The price action displayed a distinct bearish reversal formation with a large bearish engulfing candle around 20.75 Yen. A significant intraday swing low formed at 20.47 Yen, with a 61.8% Fibonacci retracement of the prior uptrend aligning near 20.85 Yen. This level may offer temporary support or trigger renewed selling pressure if broken.

Momentum and Oscillators

The RSI indicator dived into oversold territory below 30 in the last candle, but failed to trigger a strong rebound, suggesting a divergence between momentum and price. The MACD line crossed below the signal line earlier in the session, reinforcing bearish momentum. A potential short-term bounce could emerge if RSI holds above 25, but the overall trend appears to remain downward biased.

Volatility and Bollinger Bands

Volatility increased significantly after 15:00 ET, with the price dropping outside the lower Bollinger Band to 20.47 Yen. This expansion in volatility coincided with a sharp drop in price, indicating increased market anxiety. The bands widened to their maximum extent of the session, suggesting a potential consolidation phase or a reversal could follow.

Volume and Turnover

Turnover surged dramatically in the final 90 minutes, with the last candle alone accounting for 239 million Yen in notional turnover. However, the closing candle showed very low volume, which may indicate a lack of conviction in the current bearish move. Investors should watch for volume confirmation on any rebound or further breakdown.

Looking ahead, a retest of the 20.61 Yen level could be imminent, with a break below this level likely to trigger stop-loss selling. A strong rebound above 20.85 Yen may re-engage buyers, but the risk of continued selling pressure remains elevated in the next 24 hours.