EWJ Japan ETF Weekly Chart

EWJ Japan weekly chart shows the large gap down move from the quake, tsunami and nuclear disaster. Even before the disaster, this chart was in trouble. 9.2 is extremely strong support now, as well as 9.0. Three gaps need filled below and considering that the chart has only now rolled over, those fills should be coming as summer time occurs.

As we all hope and pray that out Japan friends make it thru this disaster okay, if the nuclear disaster can be averted and a happy ending occurs, the gap fill above using the 20 MA at 10.8 as a target is doable. This level would, however, simply represent the next shorting opportunity. If 9.0 is lost, this chart is in serious trouble and 7.0 would be targeted. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.