Although EWJ is not the most popular fund among retail traders, the creation of a neutral position on it at around 800,000$ suggests greater interest on the part of professional market participants, and thus we can expect fairly predictable moves at support/resistance borders.
No reason for Japan to break out to new ATH when the rest of the world isn't. All pumped up because their PM resigned, doesn't fix any real issues. Overbought on daily
Obvious pennant forming, big move next week. I'm guessing down
Multi decade channel with iron resistance level seems to have broken. Retest underway for months.What will happen next?
let's talk about money rotation for a minute. someone brought up this nikkei chart to me last night, and told me it is close to seeing a strong reversal, after taking a deeper look into it, i will have to strongly agree with their statement. --- notice how the es chart has been going up for the last 189 days, while nikkei has been slumping for this same...
Asia looked weak yesterday and they've been alternating up and down days... So shorting Japan with next week's puts. Just 15 contracts for kicks and giggles.
India (INDA) & Japan (EWJ) equities very bullish from late 2020 - helping Oil (USO) and Resources (DBC) to also soar.
It appears that my short term 27750 level was too timid, and Nikkei powered through the area like butter. The move in the index points to underlying strength and should see continuation higher. I am therefore updating my short term target to 28900 - this being the 1st Fibonacci projection level from the February March selloff. Stay long!
Japanese market being forgotten for decades is now sitting at all-time highs with rising 200DMA. It's building a small consolidation above the old highs. A possible long entry for the long term, potentially for years, unless the breakout collapses.
Why is the Nikkei at all time high (ATH), lol. The Japanese economy can;t be doing that good, plus they;ve had negative interst rates for awhile now. Overbought on the daily... Ridiculous, lol.
Japan relative the rest of the world (excluding the United States) is eyeing a new all-time relative high..
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Japan (EWJ) outperforms as Coronavirus cases are low (due to low testing), but country now on the verge of a massive virus outbreak, in line w/ EU & US. Italy (EWI) lags DM, seen as new epicenter of Coronavirus. Country on lockdown, virus priced in (relative to Japan). Italy also has sov debt & banking crisis overhang- but Japan also has massive sov debt &...
the yen did very well in 2007-2010 $FXY $USD $DXY $EWJ
USDJPY starting to turn downward again, continuation of multidecade trend. $SPY $EWJ
japanese Yen ETF seems to be finding support here. long over 87 $EWJ $JPNL