Market Overview: OFFICIAL TRUMP/Yen (TRUMPJPY) – 24-Hour Candlestick Breakdown

• Price surged 15.6% in 24 hours, peaking at 980.0 before consolidating near 976.0.
• High-volume breakouts followed by quiet consolidation suggest potential exhaustion.
• RSI and MACD show rising momentum but no overbought signals yet.
• Bollinger Bands reflect expanding volatility, with price near the upper band.
• Volume spikes correlate with key reversals, suggesting active short-term participation.

The OFFICIAL TRUMP/Yen (TRUMPJPY) opened at 932.0 on 2025-10-12 at 12:00 ET, surged to a high of 980.0, and closed at 976.0 as of 12:00 ET on 2025-10-13. Total volume over 24 hours was 228.68, with a notional turnover of approximately 196,410.63. The price action reflects a strong bullish bias, marked by several breakout attempts and consolidation phases.

Key support levels identified over the last 24 hours include 931.0, where a sharp reversal occurred, and 942.0, where multiple candles showed consolidation. On the resistance side, 956.0, 966.0, and 980.0 emerged as key price ceilings that saw repeated attempts to break above. A notable bearish reversal appeared at 970.0, where the asset briefly retested the level before continuing its upward trajectory. A bullish engulfing pattern was observed around 951.0 and 961.0, indicating strong buying pressure at those levels.

The 20-period and 50-period moving averages on the 15-minute chart show the price consistently above both, reinforcing a bullish bias in the short term. Longer-term averages (50/100/200 daily) suggest that the asset is in a clear uptrend. The MACD histogram displayed a steady increase in momentum throughout the session, while the RSI moved upward into the 60–70 range, indicating growing bullish momentum without reaching overbought territory yet.

Bollinger Bands displayed a clear expansion as the price moved higher, with the 976.0 closing price near the upper band. Volatility remained elevated after the 956.0 breakout, which coincided with a sharp increase in volume. Despite the expansion, the price has yet to show signs of exhaustion, suggesting the upward move may continue unless a key resistance level like 980.0 is tested and rejected.

The RSI and MACD indicators align with the bullish price action, showing a steady accumulation of buying pressure over the 24-hour period. The 931.0 to 980.0 move fits a Fibonacci retracement pattern of roughly 61.8%, suggesting a potential retracement to 956.0 or 966.0 for near-term support. Divergences between price and volume were minimal, indicating strong confirmation of the bullish bias.

Backtest Hypothesis
Given the strong presence of bullish engulfing patterns observed in the 951.0 and 961.0 range, a potential backtest strategy could involve identifying similar formations in the past and testing for consistent post-pattern performance. For example, a long entry on the close of a bullish engulfing candle, with a stop-loss placed below the engulfed candle’s low and a target of the 38.2% Fibonacci retracement from the prior swing high, could offer a high-probability trade setup. However, given that “TRUMPJPY” is not a recognized tradable symbol in our universe, we are unable to retrieve historical signal dates for full backtesting. If you can provide a valid symbol or a list of signal dates for the Bullish-Engulfing pattern, we can proceed with the backtest analysis.