Market Overview: Sui/Yen (SUIJPY) 24-Hour Analysis

Summary
• SUIJPY closed higher at 313.44 after opening at 304.72, with a high of 316.69 and a low of 303.04.
• Momentum shifted multiple times, with RSI briefly entering overbought and oversold territory.
• Volume surged during late ET sessions, confirming a strong bullish push before closing.

The Sui/Yen (SUIJPY) pair opened at 304.72 on 2025-11-12 at 12:00 ET and closed at 313.44 on 2025-11-13 at 12:00 ET, reaching a high of 316.69 and a low of 303.04 during the 24-hour period. The total volume traded was 260,828.95, with a notional turnover (amount × price) of approximately 79,424,066.05. The price action showed a strong late-day bullish surge, with a final closing candle indicating buying pressure.

Structure & Formations

The 24-hour chart featured multiple key resistance and support levels. Notable support was identified at 303.04, where a bullish reversal pattern occurred after a sharp pullback. A resistance cluster was visible around 307–308.16, where the price stalled multiple times before breaking through during the final hours. A strong bullish engulfing pattern formed on the 06:00–07:45 ET candles, signaling a reversal of previous bearish momentum. A doji appeared at 07:00–07:15 ET, indicating indecision before a sharp move higher.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed in favor of the bulls, with the 20 SMA rising above the 50 SMA around 01:00–01:30 ET, forming a potential golden cross. By the end of the 24-hour period, the price remained above both moving averages, indicating a strengthening bullish bias. On the daily chart, the price closed above the 50-period and 200-period moving averages, aligning with a longer-term bullish setup.

MACD & RSI

The MACD line crossed above the signal line during the early afternoon ET, confirming a bullish momentum shift. The histogram showed divergence around 04:00–06:00 ET, suggesting a possible pullback, but bullish momentum reasserted later. The RSI hit overbought levels twice during the day (311.12 and 316.69) but failed to enter a bearish divergence, suggesting continued buying pressure. A brief oversold reading at 303.68 was followed by a strong recovery, indicating strong support.

Bollinger Bands

Volatility expanded significantly during the last few hours of trading, with the price moving well above the upper Bollinger Band for the first time on the 15-minute chart. This expansion suggests a breakout scenario, particularly as the price tested the upper band multiple times without a strong reversion. The bands themselves widened after 04:00–05:00 ET, indicating growing market expectations and potential for further price extension.

Volume & Turnover

Volume spiked during the final 3 hours of the 24-hour period, with the most significant volume spike occurring on the 06:15–06:30 ET candle, where a 7,591.58 volume confirmed a large bullish move from 314.88 to 315.4. Notional turnover also spiked during this time, with the 315.69 high being supported by a 5,149.67 volume. A divergence occurred earlier in the day, where price dropped but volume remained low, suggesting weak bearish conviction.

Fibonacci Retracements

Key Fibonacci levels from the 303.04 to 316.69 swing showed strong activity. The 38.2% retracement at ~309.89 was briefly rejected, while the 61.8% at ~311.55 was confirmed by a bullish engulfing pattern. On the 15-minute chart, the 61.8% level at ~311.55 acted as a strong support and later as a pivot for a breakout to the upside.

Backtest Hypothesis

The backtest utilized daily close prices and a 1-day holding rule to simulate a basic mean-reversion or breakout strategy. The strategy was designed to capture short-term momentum shifts by entering positions at the close and exiting the following day, with the 20/50-period moving average crossover serving as a directional filter. While the backtest results are not yet provided in full, the technical indicators observed today—particularly the bullish engulfing and the strong late-day volume—would likely have triggered a long signal. The 311.12–316.69 move was supported by both technical and volume signals, which could have led to a profitable 1-day trade. Further analysis with historical data could refine entry and exit rules to improve risk-adjusted returns.