Japan ETF EWJ

Japan ETF closed down by -1.77% to 67.53 on 23 January 2021 and +-0.75% on a weekly basis. Japan ETF momentum was last calculated at +100.0/100 indicating positive momentum. Japan ETF trend is +100.0/100 indicating a positive trend. Japan ETF momentum exhaustion is 2.02852 indicating Japan ETF is oversold.Japan ETF RSI is 63.1726 .

Japan ETF EWJ Chart

Japan ETF EWJ

Japan ETF EWJ Statistics

MacroVar multi-factor statistical models monitor financial factors which are used to analyze and predict the Japan ETF. Click here to explore the financial factors monitored and their current signals.

Click here to explore the methodology used for estimating the Japan ETF trading signals presented in the Japan ETF statistics table.

Security Symbol Last Momentum Trend Oscillator RSI 1D% 1W% 1M% 1Y%
Japan ETF EWJ 67.53 1 1 2.02852 63.1726 -1.77 -0.75 -1.9 0.13415

Japan ETF closed at 67.53 on 23 January 2021. Japan ETF trend was last calculated at +100.0/100 (range: -100 to +100) indicating a positive trend based on MacroVar models. Japan ETF momentum was last calculated at +100.0/100 (range: -100 to +100) indicating positive momentum. Japan ETF momentum exhaustion is 2.02852 (normal range: -2.5 to +2.5, overbought values: greater than 2.5, oversold values: less than 2.5) indicating Japan ETF is oversold and a possible reversal is imminent. Japan ETF RSI was last calculated at 63.1726. Japan ETF moving averages were last recorded as follows: 1-month moving average: 66.3095 in an uptrend , 1-quarter moving average: 63.311 in an uptrend and 1-year moving average: 57.1248 in an uptrend. Japan ETF annual return was last recorded at None%, daily return was last recorded at -1.77%, and weekly return was last recorded at -0.75%. Japan ETF histrorical 20-day volatility was last recorded at 11.4632%, Japan ETF alpha None, Japan ETF beta None and Japan ETF maximum drawdown was recorded at None%. MacroVar models monitor Japan ETF statistics based on historical data since 1970.

Japan ETF EWJ News

Japan ETF Factors

Japan ETF

Factor Symbol Last Value Predicted Value R2 MacroVar Signal
Japan PMI vs ETF JP.FACT.ETFPMI 65.71 52.9272 0.264103

Japan ETF related Indicators

Japan ETF

Security Type Symbol Last Momentum Trend Oscillator RSI 1D% 1W% 1M% 1Y%
Nikkei 225 Stock Index NIKKEI 27548 0.5 1 2.09239 70.8645 -3.71 -4.6 -5.62 0.14037
Japan PMI vs ETF ETF vs PMI Factor JP.FACT.ETFPMI 65.71

Japan Markets

Market Symbol Last Mom Trend Exh RSI 1D% 1W% 1M% 1Y%
Nikkei 225 NIKKEI 27548 0.5 1 2.09239 70.8645 -3.71 -4.6 -5.62 0.14037
Japan ETF EWJ 67.53 1 1 2.02852 63.1726 -1.77 -0.75 -1.9 0.13415
Japanese Yen US Dollar (JPY/USD) JPYUSD 110.29 -1 -1 -1.71679 40.3032 0.3 -0.59 1.56 -0.06052
Japan 5-Year Bond Yield JP.5Y -0.13 1 -0.25 0.22604 52.5548 7.44 35.42 28.71 -0.02679
Japan 2-year bond yield JP2Y -0.13 0 0.75 0.79658 57.1808 3.17 18.18 0 0.02479
Japan Yield Curve JP.YC 0.14 0 -0.75 -0.29978 46.3161 -4.76 -15.66 -34.88 0.45545

Japan Economic Indicators

Indicator Actual Previous M/M% Y/Y% Trend Slope ZS5Y Update
balance of trade 383.18 -189.4 -3.02313 -2.40406 1.0 1.0 0.216667 2021-06-30
bank lending rate 1 1.05 -0.047619 0.0526316 1.0 1.0 0.858333 2020-08-31
business confidence 14 5 1.8 -0.416667 1.0 -1.0 0.583333 2021-04-01
capacity utilization 96.5 99.3 -0.0281974 0.370739 1.0 1.0 1 2021-05-31
capital flows 27018 -2394 -12.2857 3.28245 1.0 1.0 0.95 2021-05-31
car registrations 724641 720232 0.00612164 0.134748 1.0 1.0 0.583333 2021-05-31
central bank balance sheet 716901 724641 -0.0106812 0.104716 1.0 1.0 0.5 2021-06-30
composite pmi 48.9 48.8 0.00204918 0.198529 1.0 1.0 0.95 2021-06-30
consumer confidence 37.4 34.1 0.0967742 0.316901 1.0 1.0 0.966667 2021-06-30
consumer price index cpi 101.9 101.7 0.00196657 0.00196657 1.0 1.0 0.308333 2021-06-30
core inflation rate 0.2 0.1 1 -2 1.0 1.0 0.275 2021-06-30
current account 1979.7 1321.8 0.49773 0.852836 1.0 1.0 0.95 2021-05-31
current account to gdp 3.2 3.6 -0.111111 0.142857 1.0 1.0 0 2019-02-28
deposit interest rate -0.11 -0.15 -0.266667 -0.266667 1.0 1.0 0.05 2021-03-19
exports 7220.79 6261.28 0.153245 0.485041 1.0 1.0 0.983333 2021-06-30
external debt 518941 495234 0.0478703 0.253644 1.0 1.0 0.5 2021-01-01
foreign direct investment 10999.8 23444.1 -0.530807 0.0253356 1.0 1.0 0.566667 2021-05-31
foreign exchange reserves 1376480 1387500 -0.00794234 -0.0048583 -1.0 -1.0 0.183333 2021-06-30
gdp 5064.87 4954.81 0.0222128 0.121723 -1.0 1.0 0 2019-01-31
Real GDP 534274 542688 -0.0155043 0.00136258 1.0 1.0 0.266667 2020-11-01
gdp growth -1 2.8 -1.35714 -2.25 -1.0 -1.0 0.2 2021-03-31
gdp growth annual -1.6 -1.1 0.454545 -1.64 -1.0 -1.0 0.25 2021-01-30
gdp growth annualized -3.9 11.7 -1.33333 -3.4375 -1.0 -1.0 0.2 2021-01-01
gold reserves 845.97 765.22 0.105525 0.105554 1.0 1.0 1 2021-01-01
government budget -10.3 -3.1 2.32258 1.86111 -1.0 -1.0 0 2020-01-31
Government budget -13977 -98404 -0.857963 -1.26117 1.0 -1.0 0.133333 2021-01-01
government debt to gdp 266.2 238 0.118487 0.452264 1.0 1.0 0 2020-01-31
housing index 119.32 118.3 0.00862215 0.0268503 1.0 1.0 0.783333 2021-03-31
housing starts 9.9 7.1 0.394366 -1.825 1.0 1.0 0.3 2021-05-31
imports 6837.61 6448.42 0.0603543 0.331502 1.0 1.0 0.983333 2021-06-30
industrial production 21.1 15.8 0.335443 -1.78148 1.0 1.0 0.283333 2021-05-31
industrial production mom -6.5 2.9 -3.24138 -0.380952 -1.0 1.0 0.6 2021-05-31
inflation cpi 0.2 -0.1 -3 1 1.0 1.0 0.841667 2021-06-30
interbank rate -0.1 -0.09 0.111111 0.428571 -1.0 -1.0 1 2021-06-04
interest rate -0.1 -0.1 0 0 1.0 -1.0 0.508333 2021-04-27
loan growth 1.4 2.9 -0.517241 -0.777778 -1.0 -1.0 0.0166667 2021-06-30
loans to private sector 501460 501954 -0.000984154 0.00743735 1.0 1.0 0.0166667 2021-06-30
machinery orders 7.8 0.6 12 3.58824 1.0 1.0 0.966667 2021-05-31
manufacturing pmi 52.4 53 -0.0113208 0.306733 1.0 1.0 0.983333 2021-06-30
money supply m0 110397 110412 -0.000135855 0.0387862 1.0 1.0 0.366667 2021-06-30
money supply m1 973908 975216 -0.00134124 0.0882639 1.0 1.0 0.7 2021-06-30
money supply m2 1169650 1168040 0.00137838 0.058938 1.0 1.0 0.8 2021-06-30
money supply m3 1512570 1508490 0.00270469 0.0514984 1.0 1.0 0.8 2021-06-30
non manufacturing pmi 1 -1 -2 -0.958333 -1.0 -1.0 0.383333 2021-04-01
Producer Price Index 104.6 103.9 0.00673725 0.0502008 1.0 1.0 1 2021-06-30
PPI Index 5 5.1 -0.0196078 -4.125 1.0 1.0 0.05 2021-06-30
retail sales MoM -4.5 1.2 -4.75 0.5 -1.0 -1.0 0.8 2021-04-30
retail sales 8.2 11.9 -0.310924 -1.656 1.0 1.0 0.466667 2021-05-31
services pmi 48 46.5 0.0322581 0.0666667 1.0 1.0 0.933333 2021-06-30
unemployment rate 3 2.8 0.0714286 0.0714286 1.0 1.0 0.8 2021-05-31
youth unemployment rate 4.3 4.8 -0.104167 -0.104167 -1.0 -1.0 0.35 2021-04-30
Long Term Unemployment Rate 1.3 1.7 -0.235294 0 -1.0 -1.0 0 2014-01-01
Bank of Japan Total Assets for Japan 7246410 7202320 0.00612164 0.134748 1.0 1.0 0.583333 2021-05-01
Japan, TANKAN, Small firms, manufacturing -13 -27 -0.518519 -1.86667 -1.0 -1.0 0.35 2021-03-30
Japan, TANKAN, Small firms, non-manufacturing -11 -12 -0.0833333 -2.1 -1.0 -1.0 0.1 2021-03-31
Japan, TANKAN, Large firms, manufacturing, actual, Price Index 5 -10 -1.5 -0.8 1.0 -1.0 0.466667 2021-03-31
Japan, TANKAN, Large firms, non manufacturing, actual -1 -5 -0.8 -1.04348 -1.0 -1.0 0.383333 2021-03-31
Japan Machine Tool Orders 123946 127876 -0.0307329 1.20768 1.0 1.0 1 2021-04-30

Japan ETF Trading Signals


MacroVar estimates the following signals: Japan ETF momentum, Japan ETF trend, Japan ETF oscillator, Japan ETF RSI and Japan ETF returns.

Japan ETF Momentum

Momentum trading is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.

MacroVarJapan ETF momentum signal ranges from -100 to +100. The Japan ETF momentum signal is derived as the mean value from 4 calculations for the Japan ETF. The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. Japan ETF return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. Japan ETF EWJ momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when Japan ETF momentum signal moves from positive to negative value or vice-versa.

Japan ETF trend

Japan ETF trend signal ranges from -100 to +100. Japan ETF trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. Japan ETF Closing price vs Japan ETF moving average (MA) calculation: If Japan ETF is greater than Japan ETF MA value is +1, else -1, 2. Japan ETF Moving average slope calculation: if current Japan ETF moving average is higher than the previous MA, Japan ETF upward slope +1, else -1
Japan ETF trend model can be used as a trend strength indicator. Japan ETF trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Japan ETF trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The Japan ETF 52-week simple moving average and its slope are the most important indicators defining a market’s trend. Japan ETF is in an uptrend when Japan ETF price is higher than the 52-week moving average and the Japan ETF 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the Japan ETF oscillator and Japan ETF RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

Japan ETF oscillator

The Japan ETF oscillator estimated by MacroVar is the z-score of the current Japan ETF price versus Japan ETF 1-year simple moving average price. The formula for the Japan ETF oscillator is:
Japan ETF oscillator = (Current Price – 250 trading days Japan ETF simple moving average price) / (250 days Japan ETF price standard deviation)

Japan ETF oversold conditions
Japan ETF is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the Japan ETF is oversold it is often due for a rebound. Values of the Japan ETF oscillator lower than -2.5 signify oversold conditions. It must be noted that the Japan ETF oscillator must be analyzed ibn conjunction with the rest of Japan ETF quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the Japan ETF RSI.
Japan ETF overbought conditions
Japan ETF is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the Japan ETF is overbought it is often due for a correction. Values of the Japan ETF oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the Japan ETF quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.

Japan ETF RSI indicator

The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when Japan ETF is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. During Japan ETF uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.

Japan ETF returns

MacroVar calculates Japan ETF returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

Japan ETF returns = (Japan ETF Closing Price – Japan ETF Previous Price)/(Japan ETF Previous Price)
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