Market Overview for TRON/Yen (TRXJPY)

Summary
• Price broke above 43.92 but failed to hold, ending with a bearish engulfing pattern near 43.81.
• Volume spiked at 43.92, confirming resistance, while turnover rose 38.2% in the final 5-hour window.
• RSI suggests overbought conditions at 43.97 and oversold at 43.74, with MACD showing mixed momentum.

TRON/Yen (TRXJPY) opened at 43.82 on 12/27 ET − 1, reached a high of 43.97, touched a low of 43.73, and closed at 43.81 by 12:00 ET. Total volume for the 24-hour period was 119,571.62 units, with notional turnover of approximately ¥5,357,933.

Structure & Formations

Price tested 43.92 as a key resistance multiple times, with a failed break above confirmed by a bearish engulfing pattern at 43.81–43.83. A doji at 43.78–43.78 and a large bearish candle from 43.92 to 43.85 suggested indecision and profit-taking. A 61.8% Fibonacci retracement level aligned with 43.81, where price consolidated at the close.

Moving Averages and MACD

On the 5-minute chart, the 20-period MA crossed above the 50-period MA in the morning, supporting a bullish bias, but both lines flattened in the late afternoon as bearish pressure emerged. MACD showed a narrow histogram and crossed into negative territory by 14:15, suggesting weakening momentum.

Volatility and RSI

Bollinger Bands showed a moderate expansion after 04:15 as volatility increased, with price spending over 70% of the day outside the lower band. RSI reached 82 at the high of 43.97, indicating overbought conditions, and later dropped to 29 at 43.74, suggesting potential oversold support.

Volume and Turnover

The largest volume spike occurred at 43.92 (7,306.07 units) and again at 43.81 (5,302.37 units), confirming key levels. Turnover surged in the final 5 hours, particularly between 14:15 and 16:00, as price fluctuated between 43.84 and 43.93.

Price may test 43.74 as a short-term support in the next 24 hours, with a potential bounce expected if RSI stabilizes above 30. Investors should watch for a breakdown below 43.74 or a strong bullish reversal above 43.92 to signal the next directional move.