Market Overview for Pepe/Yen (PEPEJPY) – 2025-11-09

• PEPEJPY closed higher at 0.00092 after forming bullish patterns near key support.• High volatility and volume spikes highlight strong short-term interest and momentum.• RSI and MACD suggest overbought conditions, increasing near-term pullback risk.

The Pepe/Yen (PEPEJPY) pair opened at 0.00092 and traded between 0.000898 and 0.000943 before closing at 0.00092 at 12:00 ET. Total volume reached 502,514,899 and notional turnover was approximately ¥452,044. The session was marked by a sharp rebound from intraday lows and a consolidation phase towards the close.

Structure & Formations

The candlestick pattern over the last 24 hours shows a series of bullish engulfing and hammer patterns forming near the 0.000917 support level. Notable bearish divergence occurred after the 0.000941 high, where price pulled back sharply amid declining volume. Key resistance levels appear at 0.000926 and 0.000935, while 0.000919 and 0.000908 serve as critical support levels.

Moving Averages

On the 15-minute chart, the price has consistently traded above both the 20 and 50-period moving averages, indicating a short-term bullish bias. The daily chart shows PEPEJPY approaching its 50-day MA, with the 100- and 200-day MAs providing a stronger baseline of support at 0.000906.

MACD & RSI

The MACD line crossed above the signal line late in the session, confirming a bullish momentum shift. RSI has surged into overbought territory (currently at ~73), suggesting potential near-term profit-taking and a possible reversal. However, the RSI has not yet diverged from the price action, indicating that the bullish bias remains intact for now.

Bollinger Bands

Volatility expanded significantly as the pair moved from the lower to the upper band during a sharp rebound from the 0.000913 level. The price has since settled near the upper band at 0.000926, with the bands widening, signaling increased uncertainty. Traders should watch for a break above the 0.000931 level for confirmation of a new bullish phase.

Volume & Turnover

Volume surged near the 0.000941 high and again during the rebound, indicating strong buying interest. Notional turnover increased in line with the price action, particularly during the late-night surge. However, the volume has recently declined, suggesting a potential exhaustion phase. A divergence between price and volume could signal a short-term pullback.

Fibonacci Retracements

On the 15-minute chart, PEPEJPY appears to be testing the 61.8% retracement level at 0.000926 from the 0.000898 low. On the daily chart, the 50% Fibonacci retracement at 0.00092 aligns with the recent consolidation phase. A break above 0.000935 could target the 38.2% level at 0.000941.

Backtest Hypothesis

To further validate the technical signals, a potential backtesting strategy could be applied. Using a standard 14-day RSI look-back period, with “overbought” defined as RSI > 70, a simple buy/sell system could be constructed. If PEPEJPY were to close above 0.000935 tomorrow with RSI > 70, this could trigger a sell signal, with a target of 0.000922 (the recent 61.8% retracement level). This hypothesis aligns with the current overbought conditions and offers a clear framework for action.