Market Overview: POLJPY Sees Sharp Correction Amid High Turnover

Summary
• POLJPY opened at 17.15 and closed at 16.59 with a 24-hour low of 16.44.
• A sharp bearish reversal formed after 21:30 ET with a 16.82 low and a 16.96 high.
• High volume spikes near 01:30–02:00 ET confirmed bearish momentum.
• RSI hit oversold territory below 30 in the final hours, suggesting potential bounce.
• Price found a near-term support level around 16.50–16.52 in the last 5 hours.

The POL/Yen pair, tracked under the ticker POLJPY, opened at 17.15 on 2025-12-22 at 12:00 ET and closed at 16.59 at 12:00 ET on 2025-12-23. The 24-hour period saw a high of 17.18 and a low of 16.44. Total traded volume was 160,843.1 units, with a notional turnover of approximately 2.74 million Yen.

Structure and Key Levels

The price formed a distinct bearish reversal pattern following a 21:30 ET candle that opened at 16.97 and closed at 16.82, reflecting a loss of bullish momentum. A strong support zone emerged between 16.50 and 16.52 after multiple consolidations and retests in the final 5 hours.

Volatility and Momentum

Bollinger Bands expanded sharply after the 01:30–02:00 ET period, with price moving to the lower band, indicating heightened bearish pressure. MACD showed bearish divergence in the last 3 hours, while RSI dipped below 30, suggesting oversold conditions and possible short-term rebound.

Volume and Turnover Dynamics

Volume surged in the early morning hours, particularly between 01:30 and 02:45 ET, with a large 30375.4-unit candle confirming bearish conviction. However, volume dried up in the final 6 hours, suggesting potential exhaustion on the downside.

Forward-Looking View and Risk

Price may test the 16.50–16.52 support for a possible bounce, but without a sustained increase in volume, a further drop toward 16.40 could appear. Investors should remain cautious as market sentiment appears fragile, and any rebound may lack conviction without strong on-chain confirmation.