Downtrend will target next Fib level on lower trendline
Last session high volume move to $12.40 has the underlying ETF on the cusp of a break through.A move above this level could give significant upside.
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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...
japan announced stimuls last weeks and that caused Bulish direction , but now we have a reverse toward 11.50 to cover the Gap .we still have a high volume with huge increasing seen at EWJ Options contracts . we have 150% Strong Call volume to Call open interest ratios indicating that we will have a bulish direction seen toward Dec .we could recommed Buying 4 Dec...
The Japan market is now solidly in a correction area. I am waiting for a weekly fractal signal for my setup. Sell 2 ticks below that fractal.. Price is now solidy below the blue jaw line. It has been 28 months for a correction in the US markets. Markets are inter connected and often the Asian markets lead for a good canary in the coal mine
The Japanese yen has been methodically moving lower since mid year and a lower Yen benefits Japanese exporters. I like EWJ here since the Yen is making lower moves against the US Dollar, Euro, and other currencies as well. Together these boost Japanese corporate profits. Since the May 2013 peak price has been swinging back and forth and here is on the precipice of...
Quite a few asian market's are showing sign's of strength and breakout out of long term resistance levels. Japan has joined the party, and this time does appear different as strength is helping to confirm price action, along with China, Vietnam, and others.