Market Overview for Shiba Inu/Yen (SHIBJPY)

Summary
• SHIBJPY opened at ¥0.001529 and closed at ¥0.001564, with a high of ¥0.001565 and low of ¥0.001515.
• Price rallied strongly in early hours, forming bullish engulfing patterns, and broke above ¥0.001554.
• Volume spiked to 576,685,175 units during the breakout, confirming the move.
• RSI showed overbought conditions, while Bollinger Bands indicated heightened volatility.

Shiba Inu/Yen (SHIBJPY) opened at ¥0.001529 on 2025-11-09 at 12:00 ET and closed at ¥0.001564 at 12:00 ET on 2025-11-10. The 24-hour high was ¥0.001565, and the low was ¥0.001515. Total volume traded was 576,685,175 units, with a notional turnover of approximately ¥899,950 (assuming SHIBJPY closing at ¥0.001564 for simplicity).

The 15-minute candles showed strong bullish momentum, especially between 23:15 and 00:45 ET, where SHIBJPY broke above ¥0.001554 for the first time in the 24-hour period. A bullish engulfing pattern was observed as the price moved from ¥0.001538 to ¥0.001554 in a single candle. On the same timeframe, a long-bodied candle at 00:45 ET pushed the price to ¥0.001554, followed by a bullish breakout.

Price remained above ¥0.001554 for most of the session, with key support identified at ¥0.001538 and ¥0.001531, which were tested but not broken. Resistance is now at ¥0.001565–¥0.001565, with a potential target near ¥0.001570 based on Fibonacci retracement levels of 38.2% and 61.8%. The 20-period and 50-period moving averages on the 15-minute chart showed a bullish crossover, reinforcing the near-term upward bias.

The RSI reached overbought territory (above 70) during the morning hours, indicating a potential pullback. MACD showed a strong positive divergence, with the signal line lagging behind the histogram, suggesting momentum remains strong. Bollinger Bands expanded in the final hours of trading, with price settling near the upper band, a sign of heightened volatility.

The backtest hypothesis relies on detecting SHIBJPY's first close above ¥0.001554 as a signal for entry, with stop-loss and take-profit levels derived from the immediate Fibonacci and key support/resistance levels. The high volume and bullish patterns observed today align with the criteria of the strategy. Given the historical rarity of SHIBJPY reaching ¥0.001554 and the current momentum, this breakout appears to validate the setup.

SHIBJPY appears to be in a short-term bullish phase, supported by strong volume and breakout confirmation. However, overbought RSI and potential profit-taking could trigger a near-term consolidation. Investors should monitor key levels at ¥0.001538 and ¥0.001565 in the next 24 hours. As always, risk management remains essential due to the asset’s high volatility.