Market Overview for Sui/Yen (SUIJPY) on 2026-01-18

Summary
• Price declined from 285.52 to 280.80 amid bearish 5-minute candlestick patterns.
• Volume surged at 10:15 ET, confirming downward momentum despite lower volatility.
• RSI and MACD signal weakening bullish momentum, with RSI near oversold territory.
• 20-period MA failed to hold, reinforcing potential for further downside correction.
• Bollinger Band contraction in late hours suggests low volatility and potential for a breakout.

Sui/Yen (SUIJPY) opened at 285.12 on 2026-01-17 at 12:00 ET, reached a high of 285.52, and closed at 280.80 as of 12:00 ET on 2026-01-18. The price action saw a low of 279.34 during the 24-hour period. Trading volume totaled 59,490.06 units, with a notional turnover of approximately 16,433,316.14.

Structure & Formations

The 24-hour candlestick pattern shows a series of bearish formations, including a large engulfing candle at 01:15 ET and multiple bearish hammers and tails in the early morning. Key support levels appear to be forming around the 280.00 and 279.50 levels, while 282.00 and 283.50 act as resistance.

Moving Averages

On the 5-minute chart, the 20-period moving average failed to hold as sellers pushed price below 282.00. The 50-period MA acted as a short-term resistance but was not strong enough to reverse the downward trend. Daily moving averages (50, 100, 200) are still bearish, suggesting the pair could continue to test lower support levels.

MACD & RSI

MACD turned bearish after 01:00 ET, with the histogram shrinking in late hours, indicating slowing momentum. The RSI indicator dropped below 30 by 10:00 ET, signaling oversold conditions. This suggests the possibility of a short-term bounce, but a sustained reversal is unlikely without a clear breakout above 282.00.

Bollinger Bands

Bollinger Bands tightened during the early morning hours, indicating a contraction in volatility. Price has remained near the lower band since 04:00 ET, showing a consistent bearish bias. A breakout above the upper band would require a strong reversal, but this appears improbable in the near term.

Volume & Turnover

Volume spiked at 10:15 ET, coinciding with a sharp sell-off from 281.79 to 280.28. Turnover also surged during that period, confirming the strength of the bearish move. However, volume has since declined, suggesting a potential pause in selling pressure.

Fibonacci Retracements

On the 5-minute chart, the decline from 285.52 to 280.34 has tested the 61.8% Fibonacci level at 282.15. A break below 280.00 would bring the 78.6% level into focus at 278.90. On the daily chart, the pair is approaching the 61.8% retracement level of the recent bullish move, which could offer some support if buying interest materializes.

Looking ahead, SUIJPY may consolidate near 280.00–281.00 before testing the 279.50 support or attempting a short-term rebound. Traders should remain cautious, as the bearish momentum and low volatility suggest a potential continuation of the current downward trend. A sharp reversal is possible if the 282.00 resistance is convincingly breached, but this remains unlikely without a significant shift in market sentiment.