NFTRH+ Trade Setup; Yen Hedged Japan

Reference the Global Stock Markets segment in NFTRH 367.  We noted a nice pattern on Nikkei and a couple gaps up higher to be filled.  Here is the Yen-hedged ETF version of that, using DXJ.

The buy for traders would be 52 down to 51.  I am taking a position today because I am more of a portfolio twittler (my lingo for manager) in this case than a trader.  I am trying to balance something I am relatively bullish on (long Japan) against something I am relatively bearish on (short emerging markets).  Taken at face value, this is one of those charts, along with many indexes and individual stocks, showing an incomplete bounce pattern.

dxj daily chart

Buy Target:  52 (with tolerance down to 51)

Sell Target:  57 (with potential to fill upper gap)

Stop Loss:  Below 50 for traders (again, I am portfolio managing, so I could sell at any point if the macro shifts)

A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the buy, sell, stop parameters are already noted. They are meant as a starting point for further research if interested. I will not personally buy every item highlighted and will sometimes sell – without prior notice (because this takes time and resource away from NFTRH’s main functions) – any item that I do buy, below target, which is something I often do as a trader. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.