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We have one new official buy setup on today’s watchlist in the iShares MSCI Japan Index ($EWJ). After several months of basing action, $EWJ is poised to breakout, with the price action tightening up a bit over the past two weeks above the 50-day MA. Currently, $EWJ is in pullback mode, trading just above the rising 20-day EMA. Note that the 20-day EMA has crossed above the 50-day MA, and has turned up for a few weeks now.

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