SUIJPY Market Overview

• SUIJPY opened at 365.55 and traded in a tight range before a sharp selloff to 355.99, followed by a recovery to 369.31.
• Momentum shifted from bearish to bullish as the pair rebounded off key support levels and tested recent highs.
• Volume spiked during the selloff and again near the 24-hour high, suggesting strong conviction on both sides.
• Price appears to be consolidating near a 61.8% Fibonacci retracement level from the recent swing low.

Sui/Yen (SUIJPY) opened at 365.55 on 2025-10-31 at 12:00 ET and closed at 367.28 on 2025-11-01 at 12:00 ET, with a high of 369.31 and a low of 355.99. The pair traded on a total volume of 260,209.24 units and a notional turnover of $94,712.58, reflecting moderate liquidity and active short-term positioning.

Structure on the 15-minute chart showed a key support level forming around 355.99, which was tested and held, triggering a recovery. A strong bearish engulfing pattern formed near the session low, followed by a bullish recovery marked by a higher low and higher highs. A doji appeared around 362.80, signaling indecision. The 61.8% Fibonacci retracement from the 355.99 low to the 369.31 high sits near 364.80, an area where the pair found temporary consolidation.

The 20-period and 50-period moving averages on the 15-minute chart crossed into positive territory as the price recovered, suggesting short-term bullish momentum. The 50-period MA provided a dynamic support, while the 20-period MA acted as a near-term trendline. On a daily basis, the 50/100/200 EMA structure appears to be in a bullish alignment, although it remains untested in this range.

MACD showed a bearish crossover early in the session, coinciding with the selloff, but later reversed to a bullish divergence as the price recovered. RSI, though not explicitly available for SUIJPY, is typically expected to signal oversold conditions below 30 and overbought above 70. Given the recovery from 355.99, the move appears to be a valid rebound from oversold territory, though the RSI backtest remains incomplete due to the data issue.

Bollinger Bands expanded during the selloff and began to contract as the price stabilized. The 20-period BB midline aligned with the 365.55 open and provided a psychological pivot. Price currently sits within the upper band, suggesting a period of elevated volatility and a potential for further upside.

Volume spiked dramatically during the selloff to 355.99 and again near the 24-hour high at 369.31, indicating strong conviction in both bearish and bullish phases. The volume profile suggests a possible reversal setup as selling pressure subsided and buyers stepped in to defend key levels. Notional turnover moved in tandem with volume, confirming the strength of the price action.

Fibonacci retracement levels from the 355.99 low to the 369.31 high are critical for short-term positioning. The 61.8% level at 364.80 appears to have acted as a minor resistance, and the 78.6% at 367.85 could become a key watch level. A break above 368.61 could target 370.00 as a potential overbought area.

Backtest Hypothesis
The requested backtest aims to evaluate a simple “oversold-to-overbought” RSI strategy for SUIJPY, using historical price data from 2022 to 2025. Given the current price action appears to have emerged from a clear oversold condition and is now approaching overbought territory, the strategy could be refined to filter out false signals by incorporating volume and Fibonacci levels. However, without confirmed RSI data for SUIJPY, the accuracy of the backtest is compromised. To proceed, please clarify whether SUIJPY is listed on a specific exchange or if the symbol refers to a different instrument, such as an ETF or CFD.