Market Overview: IOTXJPY (IoTeX/Yen) 24-Hour Summary

• IOTXJPY formed a bullish engulfing pattern at 3.904 after a sharp rebound from 3.84.
• Momentum shifted from bearish to mixed as RSI rebounded from oversold levels.
• Volatility spiked during the Asian session, with volume surging on the 3.906–3.88 range.
• Price tested a key 3.858–3.864 consolidation zone before breaking higher in the final 6 hours.
• MACD line crossed above the signal line, suggesting increasing bullish momentum ahead of the next 24 hours.

At 12:00 ET on 2025-09-10, IOTXJPY opened at 3.859, reached a high of 3.971, and closed at 3.937, with a low of 3.831. Total traded volume was 1,358,210.0 units, and notional turnover hit 5,286,157.0 Yen over the 24-hour period. The pair showed a clear shift in sentiment, with bearish control early in the session giving way to a strong rebound in the afternoon and evening hours.

Structure & Formations

IOTXJPY tested a key 3.858–3.864 range in the early hours, followed by a sharp rebound on the 1915–2015 ET timeframe, forming a bullish engulfing pattern near 3.904. A long lower shadow at 3.882–3.885 on the 0445–0500 candle indicated rejection of bearish pressure. A potential consolidation triangle formed between 3.858 and 3.908 in the latter part of the session, suggesting a possible breakout ahead.

Moving Averages

Short-term 20- and 50-period moving averages on the 15-minute chart crossed above the 3.87–3.88 zone, indicating immediate bullish bias. The 50-period daily MA appears to be forming a support line near 3.86–3.87, suggesting that a break above 3.909 may confirm a longer-term reversal in trend.

MACD & RSI

The MACD line crossed above the signal line during the afternoon, with a positive histogram forming on the 3.908–3.912 range. RSI rebounded from oversold levels (near 28) to mid-50s, signaling a reversal in momentum. While not overbought, the RSI suggests that further upside is likely unless bearish volume picks up at the next resistance level.

Bollinger Bands

Volatility expanded significantly in the 0900–1200 ET period, with the upper band reaching 3.933 and the lower band at 3.882. Price closed near the upper band at 3.937, suggesting a continuation of bullish momentum unless a reversal candle appears in the next session.

Volume & Turnover

Volume surged between 1330–1445 ET, with a massive 198,159.0 units traded at 3.936. Notional turnover spiked in the same period, confirming price action. A divergence appeared in the late session between falling price and rising volume, suggesting potential bearish pressure at 3.933–3.937.

Fibonacci Retracements

Fibonacci levels applied to the 3.831–3.936 swing showed a 61.8% retracement at 3.888 and 38.2% at 3.917. A key 61.8% retracement level at 3.917 was tested in the morning and again in the evening, suggesting resistance ahead.

Backtest Hypothesis

The backtest strategy described involves a trend-following breakout approach, entering long on a close above the upper Bollinger Band with confirmation via a bullish engulfing pattern and rising RSI. A stop-loss is placed below the 3.882–3.885 support zone, with a target at 3.917–3.929. Given the recent volume confirmation and strong MACD divergence, this strategy appears well-aligned with the current setup, though risks remain if price struggles to hold above 3.882 in the next 24 hours.