We are retesting now a 25-year-old resistance level and it's a big opportunity to ride the next Japanese economy cycle.
I don't want to get into the macro-economy details, I am only focused on unbiased TA and for me, this can be a good buy opportunity if the resistance becomes a support, at least the RR looks awesome.
About the ETF, this IShares is the largest one...
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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.
ETF No rising wedges noted. NV is high.
Not a recommendation
Top 10 Holdings
Toyota Motor Corp3.97%
SoftBank Group Corp2.76%
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Takeda Pharmaceutical Co Ltd1.67%
Mitsubishi UFJ Financial Group Inc1.44%
Daiichi Sankyo Co Ltd1.43%
Recruit Holdings Co Ltd1.37%
Daikin Industries Ltd1.33%
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Structure looks similar to all of the other corrective bounces, and they don't have FAANG stocks to pump, although I'm sure they watch Netflix.
Will buy puts tomorrow depending on what their market does overnight So far futures look weak.
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