Market Overview: IOTXJPY – 24-Hour Candlestick Analysis

• IOTXJPY opened at ¥1.78, traded as low as ¥1.752, and closed near ¥1.763 with mixed 15-minute bearish and bullish tendencies.
• A strong selloff post-19:00 ET led to a ¥1.756 floor, later recovering to ¥1.78 in the evening session.
• Volatility dipped during overnight hours, but morning buying volume spiked, driving a ¥21 JPY move from ¥1.752 to ¥1.774 in 1.5 hours.
• RSI hovered near neutral, suggesting neither strong overbought nor oversold conditions despite short-term swings.
• Bollinger Band contractions during the overnight consolidation hinted at a potential breakout during the Asian session.

The IOTXJPY pair opened at ¥1.78 on 2025-10-24 12:00 ET and fluctuated between ¥1.752 and ¥1.78 over the following 24 hours, closing at ¥1.763 by 12:00 ET on 2025-10-25. Total volume reached 520,916 units, while turnover reached ¥922,389, reflecting increased activity in the late morning and early afternoon. Price action revealed a bearish impulse between 16:00 and 19:00 ET, followed by a consolidation period until a morning rally pushed prices back toward ¥1.774.

Key support and resistance levels emerged on the 15-minute chart, with ¥1.756 acting as a short-term floor and ¥1.78 as a repeated ceiling. Notable patterns included a bullish engulfing candle at 09:30 ET, suggesting a potential reversal after a morning pullback, and a bearish inside bar at 17:15 ET, signaling a pause in upward momentum. Doji were sparse, but the one at 00:15 ET hinted at indecision during the overnight hours. The 20-period moving average crossed below the 50-period line during the selloff, indicating a bearish bias, while the 50/100/200-day MA structure was neutral.

The RSI indicator fluctuated between 30 and 65, staying within neutral territory and not indicating strong overbought or oversold conditions. MACD lines showed mixed signals, with a positive crossover at 09:30 ET confirming the morning rally but no clear momentum build-up afterward. Bollinger Bands constricted during the overnight hours, signaling a potential breakout that was confirmed during the Asian morning session. The pair’s price hovered just below the upper band during the morning rebound, indicating short-term bullish sentiment but not extreme volatility.

Volume distribution was uneven, with the heaviest spikes occurring during the 09:30–09:45 ET and 05:30–05:45 ET intervals. Notional turnover spiked from ¥1.755 to ¥1.774 in just 30 minutes, confirming the strength of the morning buyers. Divergence between price and volume was minimal, suggesting consistent buying pressure during key price moves. Fibonacci retracements showed the ¥1.752 level aligning with the 61.8% retracement of the ¥1.78 to ¥1.756 swing, acting as a psychological support.

Looking ahead, IOTXJPY may test ¥1.774 as a near-term resistance and ¥1.754 as a potential support. A break above ¥1.774 could signal a resumption of bullish momentum, but caution is warranted due to the lack of strong overbought signals. A retest of ¥1.756 would confirm its significance, though a breach below that level could trigger further selling.

Backtest Hypothesis
The absence of price data for “IOTXJPY” has hindered the ability to calculate key technical indicators such as MACD and RSI using this ticker. A potential solution is to back-test using a more commonly supported pair like “IOTXUSDT” and then convert USD prices to JPY using an average or interpolated rate for the period. This approach would maintain data integrity while allowing for actionable insights. If historical JPY conversion data is available, a weighted average of the daily JPY/USD rate (e.g., 146.7 on average) could be applied to derive the IOTXJPY equivalent. This would enable the calculation of moving averages, RSI, and MACD with greater accuracy.