EWJ’s 52-week high is in the $12.40 area and was made in May. Since then, the ETF has managed several closes above $12, but has been unable to stick above that important price point. On October 22, EWJ closed at $12.15, but on Tuesday the ETF closed at $11.97, marking the third time since last month EWJ has closed above $12 only to be below that level within a matter of days.
Although EWJ is not currency hedged fund, the ETF could benefit from some yen weakening. Over the past month, EWJ is up 0.4% while the CurrencyShares Japanese Yen Trust (NYSEArca: FXY) is flat.
iShares MSCI Japan ETF
ETF Trends editorial team contributed to this post.