Market Overview for Sui/Yen (SUIJPY) – 24-Hour Candlestick Analysis

• SUIJPY traded in a 24-hour range of ¥488.98 to ¥503.77, closing near the upper end with mixed momentum signals.

• Key support levels emerged at ¥493.1 and ¥497.0, while resistance appeared around ¥500.0–¥501.5.

• Volatility expanded significantly after 03:00 ET as price dropped to ¥489.4, but volume remained concentrated in the final 8 hours.

• RSI and MACD showed divergence after the ¥489.4 low, suggesting potential for a near-term rebound.

• Bollinger Bands reflected a recent expansion, with price hovering above the 15-min upper band in late hours.

Sui/Yen (SUIJPY) opened at ¥498.43 on 2025-09-22 at 12:00 ET, reached a high of ¥503.77, a low of ¥488.98, and closed at ¥500.7 at 12:00 ET on 2025-09-23. The pair recorded a 24-hour volume of 80,781.97 units and a notional turnover of ¥39,190,104.11.

The 24-hour OHLCV data shows a volatile session with a pronounced dip to ¥489.4, followed by a strong reversal into the overnight hours. Price found temporary support at ¥493.1 and ¥497.0, with a bullish engulfing pattern forming near the ¥498.64 level. A long upper shadow on the ¥498.10 candle indicates bearish rejection at higher levels. As the day progressed, price consolidated between ¥498.5 and ¥501.5, with a strong close near the upper bound of the 15-min Bollinger Band, indicating a potential continuation of bullish momentum.

The 20-period and 50-period moving averages on the 15-min chart remained below the price in the latter half of the session, reinforcing the short-term bullish bias. However, the 50-period MA crossed below the 20-period MA in the early morning, signaling a temporary bearish crossover. The 50-period daily MA was near ¥498.5 at the time of this analysis, suggesting that the 24-hour close above this level may confirm a resumption of the short-term uptrend.

MACD showed a bearish divergence on the early morning candles, with the histogram contracting after the price hit ¥489.4. This is often a sign of oversold conditions and potential reversal. RSI confirmed the divergence, dipping below 30 at the low and showing a strong recovery into the overbought zone above 65 by 07:00 ET. Price action and momentum indicators are now aligned with a potential for consolidation or a test of ¥505.0 in the next 24 hours, though a retest of ¥493.1 or ¥497.0 could happen if volume and momentum diverge again.

Fibonacci retracement levels on the ¥488.98–¥503.77 swing indicate key levels at ¥495.6 (38.2%) and ¥498.8 (61.8%), both of which were tested and held during the session. The price then broke above ¥500.0, confirming ¥500.0 as a new minor resistance-turned-support. On the daily chart, the ¥498.5 level marks the 50% retracement of the prior week’s range and appears to be a critical pivot for near-term direction. A close above ¥503.0 would align with a 61.8% extension target of ¥506.6, suggesting a potential for further upside, but with caution warranted in the event of a pullback.

Backtest Hypothesis
A backtest strategy based on 15-min candlestick signals could focus on long entries when price closes above the 50-period MA with a bullish engulfing pattern and RSI above 50. A stop-loss could be placed below the most recent support level, and a take-profit could be set at the 61.8% Fibonacci extension. A short signal could be triggered by a bearish engulfing pattern with RSI above 70 and price closing below the 20-period MA. This approach would aim to capture continuation moves after consolidation, leveraging the observed volatility and volume patterns.