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Downtrend Broken Resist.Archive
- 7/31/2026 -
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iShares MSCI Japan Index (EWJ) Technical Analysis
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| Summary:
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| | It was a second consecutive positive week for the iShares MSCI Japan Index (EWJ). During the week, the EWJ gained 1.18 points, or 1.29%, and closed at 92.39 on Friday, July 31, 2026. Weekly volume was -29% 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 (63.05) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See EWJ weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since July 17, 2026. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
Short-term trend: [See EWJ short-term trend chart]
A short-term downtrend had started on July 10, 2026 at 94.75 and reached 89.09 on July 29, 2026. EWJ lost 5.66 points, or 5.97%, in 19 days. The price is now at the 58.30% retracement level.
Daily Technical Indicators: [See EWJ daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since June 23, 2026. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. 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 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. 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.
 Candlestick pattern: [See EWJ candlestick chart pattern]
On Friday the chart has formed a Bearish Harami Candlestick pattern. A Bearish Harami pattern occurs in an uptrend. It shows the bulls’ upward drive has weakened and now a trend reversal is possible. The reliability of the Bearish Harami pattern is low. Use the Technical Stock Screener to see the list of stocks that had a Bearish Harami Candlestick pattern during the last week.
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