Market Overview for Dogecoin/Yen (DOGEJPY) - 24-Hour Analysis as of 2025-10-25

• DOGEJPY opened at ¥29.94, surged to ¥30.59, and closed at ¥30.24, with a 24-hour low of ¥29.70.
• A strong bullish bias emerged post 01:00 ET with a high-volume rally to ¥30.59, followed by consolidation.
• RSI peaked at overbought levels, suggesting potential pullback, while Bollinger Bands showed expanding volatility.
• Notable volume spikes occurred at ¥30.50 and ¥30.40, indicating key price inflection points.
• A bullish engulfing pattern formed early in the session, suggesting possible short-term reversal.

Dogecoin/Yen (DOGEJPY) opened at ¥29.94 on 2025-10-24 at 12:00 ET and traded in a volatile range before closing at ¥30.24 at the same time on 2025-10-25. The pair reached a high of ¥30.59 and a low of ¥29.70, with a 24-hour volume of 1,500,000 DOGE and a total turnover of ¥36,500,000. Price action reflected a strong bullish impulse, followed by a pullback phase.

Structure & Formations

The price formed a strong bullish impulse off the 29.70–30.59 range, with a key candlestick pattern emerging on the 15-minute chart—a bullish engulfing pattern on 2025-10-24 at 19:15 ET, where the close of ¥30.07 engulfed the prior bearish candle of ¥29.94–29.94. This formation signaled a short-term reversal after the initial downtrend. A doji appeared at ¥30.46 on 05:45 ET, suggesting indecision after a sharp rally. Resistance appears to form near ¥30.50–30.59, while support levels are at ¥30.22 and ¥30.16.

Moving Averages

On the 15-minute chart, the 20SMA crossed above the 50SMA early in the session, indicating a short-term bullish bias. The 50-period line crossed above the 100-period on the daily chart late in the previous trading session, suggesting a continuation of the recent bullish trend. The 200SMA acts as a critical support at ¥29.90, currently below the current price, affirming the strength of the recent rally.

MACD & RSI

The MACD turned positive and crossed above the signal line around 01:30 ET, supporting the bullish momentum. RSI reached overbought territory above 70, peaking at 73.5, and has since retraced, currently at 57.6. This suggests that while bullish momentum is strong, a short-term pullback into oversold territory could be in play.

Bollinger Bands

Bollinger Bands showed a volatility expansion starting at 01:00 ET, with price breaking above the upper band at ¥30.59. This expansion confirmed a breakout move, but the bands have since contracted slightly, indicating a potential consolidation phase. Price remains above the 20-period moving average within the upper band, maintaining a bullish tone.

Volume & Turnover

Volume spiked sharply on the rally from ¥30.30 to ¥30.59, with over 100,000 DOGE traded during this phase. The highest volume occurred at ¥30.50 and ¥30.40, aligning with key resistance levels. Notional turnover rose alongside the price increase, reinforcing the move’s validity. A divergence in volume appeared during the pullback from ¥30.59 to ¥30.24, which may suggest weakening momentum.

Fibonacci Retracements

Applying Fibonacci retracements to the 29.70–30.59 swing, the 61.8% level is at ¥30.29, where price found support before continuing its consolidation. The 38.2% level at ¥30.16 also acted as a short-term floor. On the daily chart, the 50% retracement from the previous bearish swing is at ¥29.94, which may act as a key pivot for near-term direction.

Backtest Hypothesis

Given the bullish engulfing pattern observed in the DOGEJPY pair, an event-based backtest would aim to evaluate its effectiveness as a short-term reversal signal. For this, access to reliable price data is essential. The system was unable to locate price data under the ticker symbol “DOGEJPY,” which may be due to differences in symbol naming conventions across data providers. To proceed with a robust backtest covering the period from 2022-01-01 to today, confirmation is needed on the correct ticker symbol to use. Options include using a widely available proxy like “DOGE-USD” or identifying the exact symbol recognized by the intended data provider. Once a valid ticker is confirmed, the backtest can assess the profitability, win rate, and risk-reward ratios of trades initiated on Bullish Engulfing signals.