Market Overview for SUIJPY (Sui/Yen) – 2025-09-10

• SUIJPY surged to 534.84, up 7.0% from 500.0, with strong volume tailwinds and bullish momentum.
• Volatility spiked mid-day, with Bollinger Bands expanding and RSI reaching overbought territory.
• A bullish engulfing pattern emerged at 508–513.64 after a bearish correction phase.
• Fibonacci 61.8% at 525.31 acted as a key support-turned-resistance in the morning.
• Turnover surged to $27870.52 at 12:45 ET, confirming strength in the final hours of the session.

The SUIJPY pair opened at 506.95 on 2025-09-09 at 16:00 ET and surged to a 24-hour high of 534.84 at 14:00 ET on 2025-09-10. The pair closed at 532.57 at 16:00 ET, marking a strong 6.4% gain. Total volume for the 24-hour period was 117,578.44 units, with a turnover of $52,377,936.17, showing strong institutional or algorithmic participation.

Structure & Formations

Key support levels emerged at 506.95 (early open) and 508.04 (mid-morning consolidation). Resistance levels formed at 510.46, 513.11, and 525.46. A notable bullish engulfing pattern appeared between 508.04 and 513.64 following a brief bearish correction, indicating renewed buying pressure. A doji near 514.23 and 523.69 signaled indecision at key turning points.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both trended upwards by the end of the 24-hour window, confirming the bullish bias. On the daily timeframe, the 50-period MA crossed above the 100-period MA, reinforcing the upward trend. The 200-period MA acted as a strong baseline support, with the price consistently above it.

MACD & RSI

The MACD turned positive by early morning and remained bullish, with a strong histogram expansion around 520–530. The RSI reached overbought levels near 70 twice during the session, suggesting potential short-term corrections, but buying pressure quickly pushed the momentum back upwards. This suggests a strong accumulation phase driven by momentum traders.

Bollinger Bands

Volatility expanded significantly around 520–530, with the upper band reaching 534.84. The price closed near the upper band, indicating strong bullish momentum. The bands had previously narrowed during consolidation phases, suggesting the recent move was a breakout from a period of low volatility.

Volume & Turnover

Volume and turnover spiked during the final hours of the session, with the largest turnover of $27,870.52 at 525.23, coinciding with a sharp rally to the 24-hour high. The strong correlation between price and turnover indicates genuine buying interest rather than speculative noise. No divergence was observed between volume and price.

Fibonacci Retracements

Fibonacci levels from the key 506.95–534.84 move showed that the 61.8% level at 525.31 acted as a strong support-turned-resistance. The 50% retracement at 520.39 also provided a key pivot point during consolidation phases. These levels aligned with actual price behavior, suggesting they were widely monitored by traders and algorithms.

Backtest Hypothesis

A potential backtesting strategy could involve entering long positions when the 20-period moving average crosses above the 50-period MA on the 15-minute chart, coupled with RSI above 50 and a bullish engulfing pattern forming near a Fibonacci 61.8% level. This would align with today's price behavior at 508–513.64. The 200-period MA could be used as a stop-loss reference. Given the recent momentum, this strategy would aim to capture breakout continuation moves, with targets set at 535–540 and stops below 520.39. The recent volume confirmation suggests this setup may have high probability in a trending environment.