Market Overview for IOTXJPY on 2025-10-03

• IOTXJPY formed a bullish breakout above 3.490 after a consolidation phase, with price closing near the session high.
• High volatility emerged in the 00:00–05:00 ET window, with volume spiking and price testing 3.52 as an intraday peak.
• RSI showed overbought conditions above 65 and a subsequent pullback, suggesting a potential short-term correction.
• Volume diverged from price in the 21:00–00:00 ET window, signaling potential bearish follow-through risk.
• Bollinger Bands expanded significantly during the breakout, indicating increased market uncertainty and possible consolidation ahead.

The IOTXJPY pair opened at 3.429 on 2025-10-02 at 12:00 ET and closed at 3.490 on 2025-10-03 at 12:00 ET. The 24-hour high was 3.520, and the low was 3.426. Total volume reached 900,697.0, and notional turnover amounted to 3,140,397.30 JPY. The pair exhibited a strong upward bias following a key breakout above 3.490.

Structure and candlestick formations showed a strong bullish bias during the 15-minute chart in the 16:00–20:00 ET window, with a series of higher highs and higher lows forming a clear ascending triangle. A breakout above 3.490 was confirmed by a bullish engulfing pattern on the 03:15 ET candle, which closed at 3.513 after opening at 3.486. A 3.490–3.520 resistance zone emerged as the new focus, while key support levels appear at 3.480 and 3.470. A long lower shadow on the 03:30 ET candle at 3.511 and a doji at 04:00 ET suggest potential bearish exhaustion and possible retracement.

Moving averages on the 15-minute chart (20/50) showed a bullish crossover during the 19:30–20:15 ET window, supporting the upward move. On the daily chart, the 50/100/200 SMA lines were all in bullish alignment, reinforcing the longer-term uptrend. Price action remained well above all key moving averages, which is a positive sign for trend continuation.

MACD crossed above the zero line during the 19:45–20:15 ET window, confirming the bullish momentum, while RSI peaked at 68–70 levels before correcting to the 55–60 range, indicating overbought conditions and a potential pause. Bollinger Bands expanded significantly during the breakout at 03:15 ET and then began to contract around the 05:00–09:00 ET timeframe, suggesting a possible consolidation phase ahead. Price was positioned near the upper band for most of the session, indicating strong bullish momentum.