japanese Yen ETF seems to be finding support here. long over 87 $EWJ $JPNL
Seems to be at a potential resistance level for the nikkei.
Should equities break down further I will buy at these levels. Note that today (Mar 25) it is resting at support but other equity indices eg US have further to fall, so I think more decline is possible. And if so this is where Id enter
Maybe a little bit up, with a final target in the resistance a195 Also u can use EWJ Its the few markets i see potential, but with declining YEN...
This is showing a clear parallel channel downwards. Overlaying the last cycle gives a clue to future p/a. Note you can trade this by buying $EWJ
if Dollar-Yen weakens. $12.2 ish is pivot support, $11.9 is 50% retracement
The weak yen helped Japan January exports soar 17% vs the +11.9% estimate, up for the 5th consecutive month. Nissan Motor and Honda Motor are looking to join the action and boost export sales soon. The Japan equity ETF had been range bound between $10.60 and $12.20 until this week's upside breakout. Look for the $EWJ to complete a measured move to $13.80 later...
Long Term Resistancw could be founded...? $EWJ seems a little bit exhausted for buying pressure as well! Time Will tell...
Close to bollinger bands after strong expansion up and a 1.7 point cycle(+-) has been developing for a year, which all put together points to a possible top soon. The target is in the 19.9-20 area.
Price has gone from bearish zone. Strong short swing trade.