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

• SUIJPY posted a 24-hour high of 552.49 and closed near 551.38, showing upward momentum.
• Price broke above prior resistance levels with bullish engulfing patterns forming.
• Volatility expanded as the 15-minute Bollinger Bands widened.
• RSI rose into overbought territory near 70, signaling potential exhaustion.
• Turnover surged to 108,327.55 during key bullish moves, confirming strength in the rally.

At 12:00 ET on 2025-10-05, SUIJPY opened at 530.6 and closed at 551.38, reaching a high of 552.49 and a low of 521.8. The total trading volume over the 24-hour period was 330,318.96, with a notional turnover of approximately 173,778,995.22. Price action revealed a strong uptrend, supported by rising volume during key breakout phases.

Structure & Formations

Price moved in a strong bullish trend, with a clear resistance at 550.5 breaking early in the morning. A bullish engulfing pattern formed between 06:00 and 06:15 ET, confirming the breakout. Key support levels were at 543.3, 537.9, and 530.38, with the 530.38 level acting as a psychological floor. A doji at 05:45 ET signaled a minor pause before the upward continuation.

Moving Averages

On the 15-minute chart, the 20-period MA crossed above the 50-period MA, forming a bullish crossover. The 50-period MA rose above key support levels. On the daily chart, the 50-period MA showed a strong upward trajectory, aligning with the 200-period MA, indicating long-term bullish alignment.

MACD & RSI

MACD showed positive divergence, with both the line and histogram rising in line with the price. RSI rose into overbought territory during the afternoon, peaking near 70. The RSI divergence suggested that while the move was strong, it could be nearing exhaustion.

Bollinger Bands

Volatility expanded significantly during the morning session, with Bollinger Bands widening from a narrow range to a wide one. Price closed near the upper band at 552.49, indicating overextension. A retest of the upper band or a pullback toward the mid-band may be expected.

Volume & Turnover

Volume surged during key price moves, particularly between 06:45 and 08:45 ET, when the price moved from 540.05 to 549.0. The highest notional turnover occurred between 06:45 and 08:45 ET, coinciding with the most aggressive move. No significant divergence was observed between price and volume, supporting the strength of the trend.

Fibonacci Retracements

Fibonacci levels aligned with key support/resistance levels. The 61.8% retracement of the 521.8 to 552.49 move was at 541.24, which was tested and held before the price pushed higher. The 38.2% level at 535.6 was also a significant minor support level during the morning pullback.

Backtest Hypothesis

Given the strong alignment of bullish candlestick patterns with increasing volume and momentum indicators, a potential backtesting strategy could involve entering long positions upon confirmation of a bullish engulfing pattern forming above a key resistance level, provided RSI is not in overbought territory and MACD is in positive divergence. A stop loss could be placed just below the most recent support level, with a take profit aligned with Fibonacci levels or the upper Bollinger Band. This approach would be most effective during periods of rising volume and MACD divergence, as observed in the 06:00–08:00 ET period.