Market Overview for SUIJPY: 24-Hour Technical Summary (2025-09-21)

• SUIJPY traded in a bearish bias during the 24-hour period, with a closing price below the opening level.
• Notable bearish momentum observed after 19:00 ET, marked by a strong bearish engulfing pattern.
• Volatility remained relatively low but increased around 04:15 ET and again in the morning hours.
• RSI and MACD signaled moderate oversold conditions early in the session.
• Total volume and turnover suggest active bearish participation in key price levels.

SUIJPY opened at 547.4 at 12:00 ET-1 and closed at 538.42 at 12:00 ET. The 24-hour high was 550.0, and the low was 532.6. Total volume traded was 127,330.48 units, with a notional turnover of approximately $69,112,744.17, based on average pricing. The session featured bearish price action, particularly after a key bearish engulfing pattern formed around 19:00 ET, which signaled a potential reversal in buyer control. Price action continued to consolidate below key psychological and Fibonacci levels, indicating bearish pressure.

The 15-minute OHLC data shows a breakdown of the 544.5–546.2 resistance cluster, followed by a sharp drop to the 532.6 support level. The 20-period and 50-period moving averages on the 15-minute chart both sloped downward, suggesting a continuation of the short-term downtrend. On the daily chart, the 50-period moving average appears to be a key level to watch for potential trend continuation or reversal. The 200-period MA remains above the current price, reinforcing the bearish bias.

MACD lines showed a negative divergence with price, indicating weakening bullish momentum, while the RSI dipped into oversold territory (below 30) during the 04:15–06:00 ET period. However, this did not trigger a meaningful rebound, suggesting a lack of immediate buying interest. Bollinger Bands showed a moderate contraction from 06:00 to 08:00 ET before expanding again, indicating increased volatility. Price closed just below the lower band on the daily timeframe, signaling potential oversold conditions.

Price action on SUIJPY displayed a number of Fibonacci levels influencing intraday behavior, particularly the 61.8% retracement of the recent swing high at 550.0 to the low at 532.6, which aligned with the 537.0–538.0 range. This level coincided with the 19:00 ET bearish engulfing pattern, reinforcing its significance. The 38.2% retracement at 543.0 acted as a minor support and resistance during the consolidation phase. A key divergence between volume and price was observed during the morning hours, as volume declined while price continued lower. This suggests waning bearish conviction.

Backtest Hypothesis

Given the observed bearish engulfing pattern at 537.0 and the confluence with the 61.8% Fibonacci retracement level, a potential backtesting strategy could involve a short entry with a stop-loss placed above the 543.0–544.5 resistance cluster and a take-profit at the 532.0–530.0 range. This approach would aim to capture a continuation of the bearish move while managing risk on a breakout to the upside. The RSI and MACD could act as confirming indicators: a bearish crossover in MACD and RSI below 30 would strengthen the signal. Additionally, a trailing stop could be employed once the short position is in profit, tracking key support levels on a daily basis.