TRON/Yen Market Overview for 2025-11-07

Summary
• Price rose steadily during the 24-hour period, forming bullish momentum with a close near session highs.
• Volume surged during key buying windows, confirming strength in the rally.
• RSI and MACD suggest overbought conditions, raising short-term caution.
• Volatility expanded on late-session moves toward new highs.
• A 61.8% Fibonacci retracement level aligns with a potential pullback target.

TRON/Yen (TRXJPY) opened at 43.26 on 2025-11-06 at 12:00 ET and closed at 44.11 at 12:00 ET on 2025-11-07. The 24-hour session reached a high of 44.16 and a low of 43.26. Total traded volume reached 88,076.69, with a notional turnover of approximately ¥3,790,874.13. The price action showed a clear upward bias, with buyers stepping in on multiple occasions during the session.

The 15-minute chart indicates that TRXJPY formed a series of higher highs and higher lows, indicating bullish control. A key resistance level emerged near 44.16, where price paused on its final push before consolidating at 44.11. A notable Bullish Engulfing pattern appeared at 2025-1107 030000, marking a turning point in the session’s direction. The 50-period moving average rose steadily through the session, crossing above the 20-period line to reinforce the uptrend.

MACD showed positive divergence, with the line remaining above the signal line and expanding in the bullish zone, suggesting continued upward momentum. RSI reached 70 in the final hours, signaling overbought conditions and a potential near-term pause. Bollinger Bands widened as price approached the upper band, indicating increased volatility. The 200-period daily moving average is currently acting as a strong support level around 43.40–43.50, which TRXJPY appears to have retested and held above during this 24-hour period.

Fibonacci retracement levels for the most recent 15-minute rally suggest potential support at 44.00 (38.2%) and 43.90 (61.8%), aligning with key psychological levels. Given the current price action and technical signals, TRXJPY may test these retracement levels in the coming hours, though the broader trend remains positive. However, investors should remain cautious of a possible short-term correction, particularly if RSI remains overbought and volume begins to contract.

The technical setup for TRXJPY includes a Bullish Engulfing candle and a clear upward trajectory on the 15-minute timeframe. The proposed backtesting strategy involves using this Bullish Engulfing signal to enter long positions with a 3-day holding period. However, during data retrieval, the dataset reported an inability to locate the asset’s base information for TRXJPY. Three practical alternatives are recommended: 1) Retrying with a different, commonly recognized symbol such as TRX-USDT or TRX; 2) If a list of Bullish-Engulfing dates for TRXJPY is available, this can be used to directly run the backtest; or 3) Waiting for a resolution from the data provider. The choice will determine the speed and feasibility of the backtest execution.