Market Overview for Shiba Inu/Yen (SHIBJPY) on 2025-11-08

Summary
• SHIBJPY traded in a tight range for much of the session, with a late rally pushing the price above 0.00156.
• A key 15-minute bullish engulfing pattern appeared at 0.001561, followed by a short-lived rebound.
• Volatility and turnover surged during the early hours of 2025-11-08, signaling heightened interest.

Shiba Inu/Yen (SHIBJPY) opened at 0.001485 on 2025-11-07 at 12:00 ET and closed at 0.001538 on 2025-11-08 at the same time. The pair reached a high of 0.001589 and a low of 0.001482 during the 24-hour period. Total volume was 6,161,409,726.0 and total turnover was 9,098,236,316.90 JPY.

The 20-period and 50-period moving averages on the 15-minute chart remain in a near-parallel setup, indicating a consolidation phase. Price has spent much of the session oscillating between these two lines, suggesting a lack of strong directional momentum. On the daily chart, the 50-period MA is above the 100-period and 200-period MAs, hinting at potential bearish pressure but with no clear break below.

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Relative Strength Index (RSI) readings have been hovering between 50 and 65 for most of the 24-hour period, signaling a neutral to slightly bullish tone in terms of momentum. However, the RSI briefly dipped below 50 during the morning hours, indicating a short-lived pullback. MACD values have remained flat to slightly negative, with no strong histogram divergence observed, suggesting limited directional thrust in either direction.

Bollinger Bands show a moderate widening during the early part of the session, as volume picked up. Price traded within the upper band for several hours after 0.001568 was tested, then drifted back toward the middle band. Volatility appears to be stabilizing, which may indicate a potential breakout is being set up for the next 24 hours.

Fibonacci retracement levels drawn from the swing high at 0.001589 and low at 0.001482 show that current price action is testing the 61.8% retracement level of around 0.001537. This level is closely aligned with the 15-minute close on 2025-11-08, suggesting a possible short-term support or pivot point.

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Backtest Hypothesis

A potential backtesting strategy for SHIBJPY involves identifying and acting on bullish engulfing patterns in 15-minute candlestick data. The strategy is to enter long at the close of the engulfing candle and exit when the price closes strictly above the high of that engulfing pattern. This approach assumes that a close above the pattern’s high confirms a sustained reversal and provides a clean exit point.

However, to manage risk, it is recommended to implement a fallback exit window. If the price does not close above the pattern’s high within 50 candles (approximately 12.5 hours), a force-exit rule should trigger to avoid indefinite open positions. Additionally, a stop-loss at the engulfing pattern’s low could be introduced to protect against sudden reversals or volatility.

Once confirmed, the backtest will generate paired open/close signals that will be fed into a strategy engine to evaluate returns, win rate, and risk-adjusted performance. The results will also be visualized in an interactive chart to better understand the strategy’s behavior over time.

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