Near Term Trend: Bullish
Fridays Close: $54.22 (+ 0.41%)
UPDATE: Last week, I suggested buying Japanese equities if the EWJ ETF pulled back to $52.79 with stops in place on a close below that level and with $61.74 as the upside target.
Japanese stocks pulled back this week but not much. They already tested the top of a potential support range at 53.90 and could even reach down to 53.58 without turning bearish in the short-term .
Look to buy Japanese equities on any test of $53.58 53.90 and look for a move up to $61.74.