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

Summary
• SUIJPY formed a bearish engulfing pattern near $286.86, confirming a short-term reversal.
• Momentum waned as RSI flattened around 45 and MACD failed to show bullish divergence.
• Volatility expanded during Asian hours, with a 1.7% range between $278.96 and $284.36.
• Volume spiked at 23:15 ET and 02:30 ET, but price action failed to confirm breakout strength.
• Bollinger Bands showed contraction early, followed by a breakout and reversion to the midline by 04:00 ET.

The Sui/Yen (SUIJPY) pair opened at $283.80 on 2026-01-15 12:00 ET, reached a high of $287.34, and closed at $282.30 by 2026-01-16 12:00 ET, with a 24-hour volume of 134,568.15 units and a notional turnover of $37,845,764.24.

Structure & Candlestick Formations

Price initially tested a key resistance at $286.86 with a bullish engulfing pattern but failed to hold, forming a bearish engulfing candle at 17:45 ET. A doji appeared at 03:45 ET near $282.54, hinting at indecision. Support levels emerged at $281.21 and $279.96, both showing strong price rejection.

Volatility and Bollinger Bands

Volatility expanded during the Asian session as the pair oscillated between $278.96 and $284.36, pushing the Bollinger Bands wider. Price closed within the middle band at $282.30, suggesting exhaustion in the current directional move.

Momentum Indicators

The RSI flattened around the 45 level, indicating a lack of conviction in either direction. MACD showed a bearish crossover in the early morning hours, but failed to gain traction. Divergence between volume and price was visible during the 02:30–04:00 ET period, with strong volume failing to push price higher.

Volume and Turnover Insights

Volume spiked at 23:15 ET and 02:30 ET, with turnover increasing to $2.2 million and $2.1 million respectively. However, the price failed to confirm these spikes by breaking above the key $284.36 level. A divergence between rising volume and falling price suggests potential bearish pressure.

Key Fibonacci Levels

On a 5-minute chart, a 61.8% retracement of the $283.27–$287.34 move aligned with $285.14, where price stalled. On the daily chart, the 38.2% level at $282.45 held as a support, suggesting a possible base for short-term consolidation.

Price may continue to test the $282.00 psychological level, but bearish pressure appears to be waning. Traders should watch for a potential bounce or a break below $279.96, which could trigger a deeper correction. As always, be cautious of liquidity risks during low-volume periods.