Near Term Trend: Neutral / Bullish
Fridays Close: $53.63 (+ 0.24%)
UPDATE: Last week, I suggested shorting Japan stocks at $53.75 with a $50.64 target and a stop above $54.
EWJ rallied and approached $53.75 resistance last week. Im using a monthly chart of EWJ this week to give more room to hold onto new trades. Im still bearish as long as EWJ is below $54.68.
Look to short between $53.75 and $54.44 with stops on any monthly close above $54.68 and with an initial downside target of $50.64.