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Downtrend Broken Resist.Archive
- 8/7/2026 -
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iShares MSCI Japan Index (EWJ) Technical Analysis
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| Summary:
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| | It was a third consecutive positive week for the iShares MSCI Japan Index (EWJ). During the week, the EWJ gained 4.51 points, or 4.88%, and closed at 96.90 on Friday, August 7, 2026. Weekly volume was -51% below average.
 Long-term trend: [See EWJ long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 47.64 and reached 97.52 on June 22, 2026. EWJ gained -49.88 points, or -104.70%, in 192 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (63.09) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See EWJ medium-term trend chart]
A medium-term downtrend had started on June 22, 2026 at 97.52 and reached 89.09 on July 29, 2026. EWJ lost 8.43 points, or 8.64%, in 5 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (87.99) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. EWJ may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See EWJ weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.
The weekly MACD line is below its signal line since July 17, 2026. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See EWJ short-term trend chart]
A short-term uptrend had started on July 29, 2026 at 89.09 and reached 96.96 on August 7, 2026. EWJ gained -7.87 points, or -8.83%, in 9 days. Price is near the trend high.
 Daily Technical Indicators: [See EWJ daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic. Use the following link to access Lane's Stochastic help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
The price touches the upper Bollinger Band. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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