Market Overview for Ethereum/Yen (ETHJPY) on 2025-12-17

Summary
• Ethereum/Yen traded in a 24-hour range of ¥451,282–¥472,113, with a closing near the upper end at ¥468,360.
• Momentum picked up near the end of the period, with a bullish 5-minute engulfing pattern forming after a pullback.
• Volume spiked sharply during the final 2-hour window, exceeding ¥486 million in notional turnover during a key breakout.
• Bollinger Bands widened significantly as ETHJPY surged past ¥466,000, signaling heightened volatility.
• RSI showed a brief overbought condition near ¥472,000 but remains below extreme levels, suggesting room for further upside.

Ethereum/Yen (ETHJPY) opened at ¥454,600 and reached a high of ¥472,113 before closing at ¥468,360 on 2025-12-17. The 24-hour low was ¥451,282. Total trading volume was 1,259.27 units, with notional turnover of ¥548.6 million.

Structure & Formations

Price traced a complex path within a tight range for much of the session before breaking decisively to the upside. . A key 5-minute engulfing pattern formed between 14:00 and 14:05 ET, signaling a potential short-term reversal after a pullback. Earlier, a doji appeared at ¥455,000, suggesting indecision ahead of the final upward leg.

Moving Averages and Momentum

The 20-period and 50-period moving averages on the 5-minute chart remained in close proximity, with ETHJPY closing above both. MACD showed a bullish crossover in the final hour, confirming the upward shift in momentum. RSI edged into overbought territory briefly but stayed well within reasonable bounds.

Volatility and Volume Analysis

Bollinger Bands expanded in the final 2 hours of the session, mirroring the sharp price increase. Volume surged in the last 3 hours, with the largest 5-minute bar recording ¥486 million in turnover during the ¥466,000 breakout. This volume expansion supports the strength of the move.

Fibonacci and Key Levels

On the 5-minute chart, the move from ¥451,282 to ¥472,113 reached a 61.8% retracement level near ¥461,700, followed by a continuation suggesting strong buying interest above this level. Daily Fibonacci levels align with ¥460,000 and ¥468,000 as potential near-term supports and resistances.

The market may continue to test ¥472,000 in the next 24 hours, with a risk of a pullback if volume weakens. Investors should watch for a potential rejection at key 5-minute Fibonacci levels or a break of ¥472,000 to confirm a broader bullish trend.