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Watching $AAXJ at current levels, some hesitation.
Been observing $AAXJ today and it's clinging to the 116.30s. From where I'm sitting, it's starting to look like a potential triple top around the 117.10-117.20 area on the daily chart if it can't push through here with conviction. The intraday push to 117.12 was quickly faded. A clean break and hold above 117.20 would obviously invalidate that scenario, suggesting continuation. Below 116.00, and I'd be looking for a retest of 115.50 quickly. Just my read, always room for error.
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It's a valid observation. The rejection at 117.12 was fairly sharp, which doesn't inspire much confidence for an immediate breakout. I'd want to see significant volume if it tries that level again.