{"schema_version":"1.0","name":"EJAG Technical Research Pack","type":"technical_research_pack","method_version":"technical-research-pack-1","as_of":"2026-08-21","ticker":{"uuid":"ae2e834b-b788-458b-bbca-da39e317f38b","symbol":"EJAG","name":"BNP PARIBAS EASY - MSCI Japan Min TE UCITS ETF GBP CAPITALISATION","exchange":"LSE","country":"GB","asset_type":"etf","currency":"GBP","sector":null,"industry":null},"summary":"Market Dynamics eased this week but remains positive. Underlying support has contracted across the recent completed path. Price has moved below the distribution zone after Market Dynamics weakened.","sections":[{"name":"Executive technical read","description":"Completed-week price state, Market Dynamics alignment, current price and the principal technical KPIs."},{"name":"Market Dynamics","description":"The proprietary relationship between completed price, underlying support, positioning zones and confirmation."},{"name":"Ticker evidence record","description":"Current application, comparable historical conditions, zone outcomes and practical review conditions."},{"name":"Adaptive technical evidence","description":"Six condition-selected views: Trend, acceptance and volatility envelope, Activity pressure and cumulative balance, Directional strength and control, Range pressure and compression, Range position and boundary pressure, Acceleration, deceleration and rollover."},{"name":"SM Tape Intelligence","description":"Resolved consensus with Control, Force, Direction and Confirmation gauges against completed price."},{"name":"Research boundary","description":"Dated scope, interpretation limits, methodology version and source references."}],"research":{"available":true,"asOf":"2026-08-21","observations":39,"displayedObservations":39,"assetType":"ETF","state":"Rotational","stateTone":"caution","summary":"Market Dynamics eased this week but remains positive. 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Further price weakness would confirm the downside transition; a recovery in both readings would remove the 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The observations below show how this ticker's completed history can guide positioning, confirmation and risk control without treating any one reading as a forecast.","observations":[{"eyebrow":"Divergence control","title":"Do not chase price while the underlying evidence lags","tone":"caution","approach":"Use the gap to review position size, protect gains and wait for either Market Dynamics to catch up or price to correct. The disagreement is a warning condition, not an automatic exit.","finding":"The current relationship is visible, but this ticker does not yet have a completed comparable outcome.","watch":"A recovery in both price and Market Dynamics would remove the rollover warning."}]},"summary":"This record compares the ticker's completed price path with its published Market Dynamics history."},"events":{"positioning_recoveries":[],"reversal_warnings":[{"date":"2026-06-19","price":13.543},{"date":"2026-08-07","price":13.39}],"reversal_dangers":[{"date":"2026-06-19","price":13.543},{"date":"2026-06-26","price":13.161},{"date":"2026-08-14","price":13.544}]}},"smTape":{"available":true,"dates":["2025-11-28","2025-12-05","2025-12-12","2025-12-19","2025-12-26","2026-01-02","2026-01-09","2026-01-16","2026-01-23","2026-01-30","2026-02-06","2026-02-13","2026-02-20","2026-02-27","2026-03-06","2026-03-13","2026-03-20","2026-03-27","2026-04-03","2026-04-10","2026-04-17","2026-04-24","2026-05-01","2026-05-08","2026-05-15","2026-05-22","2026-05-29","2026-06-05","2026-06-12","2026-06-19","2026-06-26","2026-07-03","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14","2026-08-21"],"close":[11.1748,11.144,11.289,11.0245,11.0818,11.043,11.657,11.806,11.463,11.572,11.8383,12.5263,12.3989,12.7788,12.0213,11.6935,11.6142,11.327,11.865,12.079,12.335,11.916,11.95,12.442,12.618,12.617,12.78,12.778,12.833,13.543,13.161,13.212,13.175,12.524,12.862,12.742,13.39,13.544,12.936],"consensus":[100.0,-21.3675,100.0,-100.0,-17.0476,-37.1894,80.2816,64.2135,-8.7141,57.0596,68.9753,78.9587,32.9052,85.997,-15.6249,-30.0587,-35.8736,-55.3741,24.4253,35.2396,51.8123,-14.4743,0.0,48.1195,41.6026,41.2988,32.1772,19.9224,44.8511,55.6497,29.0515,47.7636,41.0763,-38.5677,25.0473,-23.3249,61.8514,55.5359,28.0857],"supportDates":["2025-11-28","2025-12-05","2025-12-12","2025-12-19","2025-12-26","2026-01-02","2026-01-09","2026-01-16","2026-01-23","2026-01-30","2026-02-06","2026-02-13","2026-02-20","2026-02-27","2026-03-06","2026-03-13","2026-03-20","2026-03-27","2026-04-03","2026-04-10","2026-04-17","2026-04-24","2026-05-01","2026-05-08","2026-05-15","2026-05-22","2026-05-29","2026-06-05","2026-06-12","2026-06-19","2026-06-26","2026-07-03","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14","2026-08-21"],"control":[null,null,null,null,null,-37.8784,77.8473,58.4631,-28.128,51.1893,66.8247,74.6724,16.3748,86.143,-29.2384,-18.3927,-29.384,-51.1263,34.0237,32.3495,60.4976,-35.1923,0.0,56.512,48.1158,43.2871,13.3556,9.5428,55.4495,56.4683,36.3119,55.4233,48.0836,-38.6666,34.3075,-16.4468,69.5174,52.4954,38.8313],"force":[100.0,-21.3675,100.0,-100.0,-6.9037,-45.3133,95.5928,56.111,-57.1244,63.6202,82.6175,81.63,4.1064,91.7566,-57.5162,-28.7116,-41.4248,-64.2022,47.3159,43.1891,44.1814,-28.4319,0.0,40.7695,24.6267,23.5105,29.4044,4.312,26.0552,39.3572,16.2892,26.0858,18.407,-39.1282,52.3998,-37.9181,77.877,61.7808,52.9822],"direction":[null,null,null,null,-34.1556,-30.5993,72.1271,76.5729,-48.052,59.0824,61.6888,81.9493,78.2339,81.7161,-29.8559,-44.3534,-39.3253,-53.923,2.8949,32.8643,47.3367,-19.1731,0.0,43.7781,46.2847,51.7324,55.6683,49.095,46.1642,66.3516,53.1401,54.4937,49.2603,-38.0542,5.0733,-20.7619,41.6434,54.5501,1.9784],"intensity":[null,null,null,null,75.0,20.0,100.0,85.7143,87.5,44.4444,70.0,100.0,33.3333,84.6154,92.8571,86.6667,12.5,58.8235,77.7778,73.6842,40.0,71.4286,9.0909,78.2609,62.5,12.0,73.0769,7.4074,25.0,96.5517,76.6667,16.129,15.625,87.8788,73.5294,25.7143,86.1111,67.5676,81.5789],"confirmation":[54.6667,29.5043,54.6667,54.6667,29.2362,80.1377,94.1938,88.389,36.8858,86.5485,90.5206,93.4135,55.8629,95.6923,35.1051,77.7555,79.7476,86.0535,54.3183,79.563,84.215,31.4984,1.7718,83.0464,80.6962,80.6432,78.499,52.048,81.618,85.2989,33.9457,82.507,80.3468,80.3572,55.1233,76.0135,88.164,86.0081,55.3378],"persistence":[null,null,33.3333,0.0,20.0,33.3333,14.2857,0.0,25.0,0.0,0.0,25.0,50.0,75.0,50.0,25.0,25.0,0.0,0.0,0.0,0.0,25.0,12.5,12.5,37.5,62.5,62.5,62.5,62.5,87.5,100.0,100.0,100.0,75.0,75.0,50.0,50.0,50.0,25.0],"assessmentRisk":[null,null,null,null,18.6733,12.8499,3.7569,17.6989,48.4965,19.7925,3.9589,9.6791,33.3632,6.9734,30.3605,33.5933,30.4427,22.252,30.1936,20.3722,21.6587,52.35,10.728,11.3441,11.3905,27.1817,32.9769,31.6312,11.6402,21.9613,27.4318,21.2794,20.7117,30.4413,48.3985,32.6275,3.7381,21.9272,23.2726],"volumeParticipation":true,"latest":{"consensus":28.1,"control":38.8,"force":53.0,"direction":2.0,"confirmation":55.3,"persistence":25.0,"assessmentRisk":23.3,"intensity":81.6,"evidenceDepth":100},"analysis":{"status":"Market Dynamics has stronger support","headline":"The gauges support the upward view","summary":"The completed evidence gives the upward view the clearer support.","take":"Current assessment: upward pressure has the stronger support.","tone":"positive","supportedView":"Market Dynamics","direction":"upward","disagreement":false},"support":{"window":"Latest 12 months","controlState":"Buyer control supports the view","controlPath":"Broadly stable","forceState":"Upward commitment","forcePath":"Broadly stable","directionState":"Follow-through is limited","persistenceState":"Unsettled","confirmationState":"Qualified support","riskState":"Contained","intensityState":"Elevated"},"cards":[{"label":"SM Consensus Gauge","value":"+28.1","detail":"Market Dynamics has stronger support","tone":"positive"},{"label":"SM Control Gauge","value":"+38.8","detail":"Buyer control supports the view","tone":"positive"},{"label":"SM Force Gauge","value":"+53.0","detail":"Upward commitment","tone":"positive"},{"label":"SM Direction Gauge","value":"+2.0","detail":"Follow-through is limited","tone":"positive"},{"label":"SM Confirmation Gauge","value":"55/100","detail":"Qualified support","tone":"neutral"}]},"kpis":[{"label":"Price structure","value":"Rotational","detail":"completed-week alignment","tone":"caution"},{"label":"Momentum","value":"54.0","detail":"Positive","tone":"positive"},{"label":"Risk pressure","value":"3.1%","detail":"Normal","tone":"neutral"},{"label":"Trend quality","value":"38.7","detail":"Directional","tone":"positive"},{"label":"Range position","value":"70%","detail":"location inside observed range","tone":"neutral"},{"label":"Adaptive set","value":"6 views","detail":"selected for the current tape","tone":"neutral"}],"charts":[{"key":"price","eyebrow":"Price architecture","title":"Trend, acceptance and volatility envelope","description":"Price is shown against fast and slow trend references with its current volatility envelope.","reason":"Selected as the anchor because price is rotating through its trend references.","series":[{"label":"Close","values":[11.1748,11.144,11.289,11.0245,11.0818,11.043,11.657,11.806,11.463,11.572,11.8383,12.5263,12.3989,12.7788,12.0213,11.6935,11.6142,11.327,11.865,12.079,12.335,11.916,11.95,12.442,12.618,12.617,12.78,12.778,12.833,13.543,13.161,13.212,13.175,12.524,12.862,12.742,13.39,13.544,12.936],"stroke":"#10243b","width":2.1},{"label":"Fast trend","values":[null,null,null,null,11.1464,11.1276,11.2238,11.3297,11.3539,11.3936,11.4744,11.6657,11.799,11.9771,11.9852,11.9321,11.8743,11.7748,11.7912,11.8435,11.9329,11.9298,11.9335,12.0259,12.1336,12.2215,12.323,12.4058,12.4834,12.6761,12.7643,12.8457,12.9055,12.8362,12.8409,12.8229,12.926,13.0384,13.0198],"stroke":"#176fa3","width":1.7},{"label":"Slow trend","values":[null,null,null,null,null,null,null,null,null,null,null,null,11.4816,11.5777,11.6106,11.6167,11.6165,11.5951,11.6151,11.6494,11.7002,11.7162,11.7335,11.786,11.8476,11.9046,11.9695,12.0294,12.0889,12.1966,12.268,12.338,12.4,12.4092,12.4427,12.4649,12.5334,12.6083,12.6325],"stroke":"#07865c","width":1.8},{"label":"Upper envelope","values":[null,null,null,null,null,null,null,null,null,11.8574,11.9587,12.3183,12.4953,12.7486,12.7544,12.7221,12.688,12.6518,12.642,12.6564,12.7275,12.732,12.7424,12.7822,12.8389,12.8605,12.9598,13.0486,13.112,13.3355,13.4438,13.5384,13.6264,13.6042,13.6457,13.6483,13.7177,13.7337,13.7118],"stroke":"#98a9b8","width":1.0,"dash":[6,5]},{"label":"Lower envelope","values":[null,null,null,null,null,null,null,null,null,10.7936,10.7855,10.6183,10.5845,10.5082,10.5547,10.5919,10.621,10.6208,10.6547,10.6833,10.7283,10.801,10.8567,10.9587,11.0555,11.1913,11.2043,11.2127,11.2863,11.2599,11.2839,11.2579,11.2474,11.2442,11.2867,11.3891,11.4972,11.7029,11.8319],"stroke":"#98a9b8","width":1.0,"dash":[6,5]}],"guides":[],"dates":["2025-11-28","2025-12-05","2025-12-12","2025-12-19","2025-12-26","2026-01-02","2026-01-09","2026-01-16","2026-01-23","2026-01-30","2026-02-06","2026-02-13","2026-02-20","2026-02-27","2026-03-06","2026-03-13","2026-03-20","2026-03-27","2026-04-03","2026-04-10","2026-04-17","2026-04-24","2026-05-01","2026-05-08","2026-05-15","2026-05-22","2026-05-29","2026-06-05","2026-06-12","2026-06-19","2026-06-26","2026-07-03","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14","2026-08-21"]},{"key":"participation","eyebrow":"Participation","title":"Activity pressure and cumulative balance","description":"Observed activity is compared with its normal backdrop while cumulative balance tracks directional participation.","reason":"Selected because participation is confirming or diverging from the latest price path.","series":[{"label":"Activity versus norm","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,1800.0,1571.9212,253.422,358.7656,121.9706,545.3539,367.7447,481.0697,146.9164,5.4573,83.9194,13.8291,0.0,35.9634,6.3993,28.6272,0.0,72.3125,82.651,63.6245,366.6753,25.2816],"stroke":"#1678a7","width":1.8},{"label":"Cumulative balance","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,65.0,135.0,135.0,135.0,131.9793,135.0,135.0,135.0,131.6976,131.8206,129.8462,130.1738,130.1738,129.3062,129.4611,128.7582,128.7582,130.6003,128.404,130.1503,135.0,134.4227],"stroke":"#07865c","width":1.7}],"guides":[{"label":"Typical activity","values":[100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0,100.0],"stroke":"#8fa0af","width":1.0,"dash":[6,5]}],"dates":["2025-11-28","2025-12-05","2025-12-12","2025-12-19","2025-12-26","2026-01-02","2026-01-09","2026-01-16","2026-01-23","2026-01-30","2026-02-06","2026-02-13","2026-02-20","2026-02-27","2026-03-06","2026-03-13","2026-03-20","2026-03-27","2026-04-03","2026-04-10","2026-04-17","2026-04-24","2026-05-01","2026-05-08","2026-05-15","2026-05-22","2026-05-29","2026-06-05","2026-06-12","2026-06-19","2026-06-26","2026-07-03","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14","2026-08-21"]},{"key":"directional","eyebrow":"Trend quality","title":"Directional strength and control","description":"Directional pressure shows which side controls the tape while strength remains direction-neutral.","reason":"Selected because directional control or trend strength is materially changing.","series":[{"label":"Trend strength","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,51.684,51.3187,50.9443,51.629,50.4352,49.4123,48.1196,45.1984,43.3924,41.6425,40.7339,40.26,38.6959],"stroke":"#10243b","width":2.0},{"label":"Positive direction","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,38.9394,31.1943,28.0463,27.6787,25.3589,27.0358,29.7085,28.1794,26.1089,24.8644,29.5735,30.5608,28.8687,31.9637,31.535,31.0408,40.3268,36.8152,37.4557,36.4264,31.7871,37.6463,34.6297,37.8137,39.9272,35.3698],"stroke":"#07865c","width":1.6},{"label":"Negative direction","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,3.8107,13.4875,17.4711,16.4612,20.1907,17.6079,16.2204,15.1018,14.4588,14.2463,12.6613,11.9955,12.6482,11.9431,11.4959,11.4582,9.9153,17.7598,17.5798,19.0536,27.5045,25.142,23.6234,20.8477,19.6216,24.3953],"stroke":"#c13f3f","width":1.6}],"guides":[],"dates":["2025-11-28","2025-12-05","2025-12-12","2025-12-19","2025-12-26","2026-01-02","2026-01-09","2026-01-16","2026-01-23","2026-01-30","2026-02-06","2026-02-13","2026-02-20","2026-02-27","2026-03-06","2026-03-13","2026-03-20","2026-03-27","2026-04-03","2026-04-10","2026-04-17","2026-04-24","2026-05-01","2026-05-08","2026-05-15","2026-05-22","2026-05-29","2026-06-05","2026-06-12","2026-06-19","2026-06-26","2026-07-03","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14","2026-08-21"]},{"key":"volatility","eyebrow":"Risk geometry","title":"Range pressure and compression","description":"Movement pressure and envelope width show whether risk is expanding, settling or compressed.","reason":"Selected because current variability is unusually compressed or expanded versus this ticker's own tape.","series":[{"label":"Range pressure","values":[null,null,null,null,null,null,null,null,null,null,null,null,null,2.4373,3.0032,3.1886,3.164,3.2881,3.3423,3.3094,3.2321,3.3531,3.2602,3.2716,3.1618,3.1083,3.0177,2.9116,2.7349,2.7808,2.9106,2.7199,2.6042,2.9152,2.8835,2.9382,2.942,2.8695,3.1493],"stroke":"#c13f3f","width":1.9},{"label":"Envelope width","values":[null,null,null,null,null,null,null,null,null,9.3925,10.3164,14.823,16.5588,19.2668,18.8738,18.2735,17.7351,17.4539,17.0612,16.9075,17.0471,16.4111,15.9811,15.3617,14.927,13.8796,14.5295,15.134,14.966,16.8776,17.4697,18.3942,19.1284,18.9951,18.9229,18.0466,17.6128,15.9677,14.7185],"stroke":"#b87806","width":1.7}],"guides":[],"dates":["2025-11-28","2025-12-05","2025-12-12","2025-12-19","2025-12-26","2026-01-02","2026-01-09","2026-01-16","2026-01-23","2026-01-30","2026-02-06","2026-02-13","2026-02-20","2026-02-27","2026-03-06","2026-03-13","2026-03-20","2026-03-27","2026-04-03","2026-04-10","2026-04-17","2026-04-24","2026-05-01","2026-05-08","2026-05-15","2026-05-22","2026-05-29","2026-06-05","2026-06-12","2026-06-19","2026-06-26","2026-07-03","2026-07-10","2026-07-17","2026-07-24","2026-07-31","2026-08-07","2026-08-14","2026-08-21"]},{"key":"range","eyebrow":"Acceptance map","title":"Range position and boundary pressure","description":"Price location inside its observed range shows whether the tape is pressing an outer boundary or rotating through value.","reason":"Selected because price is testing an observed boundary or moving rapidly through its recent range.","series":[{"label":"Range position","values":[null,null,null,null,null,null,null,92.2762,55.3269,67.0688,95.7557,88.9096,81.7264,100.0,58.593,40.6745,36.3398,20.6406,50.0492,61.747,75.7407,52.837,54.6955,81.5896,91.2102,91.1556,92.7119,90.6905,93.535,100.0,84.72,85.2928,83.3935,54.0162,69.269,63.8538,93.0957,96.4332,69.987],"stroke":"#10243b","width":2.0},{"label":"From high","values":[null,null,null,null,null,null,null,-0.6037,-3.4914,-2.5737,-0.3317,-1.546,-2.5474,0.0,-5.9278,-8.493,-9.1135,-11.361,-7.1509,-5.4763,-3.4729,-6.7518,-6.4857,-2.6356,-1.2583,-1.2662,-1.0683,-1.3891,-0.9647,0.0,-2.8206,-2.4441,-2.7173,-7.5242,-5.0284,-5.9145,-1.1297,-0.6018,-5.0638],"stroke":"#c13f3f","width":1.5},{"label":"From low","values":[null,null,null,null,null,null,null,7.8233,4.6907,5.6862,8.1183,14.4017,13.2382,16.7078,9.7896,6.7958,6.0716,3.4486,8.3621,10.3165,12.6546,8.8279,9.1384,13.6318,15.2392,15.2301,15.9236,15.9055,16.4044,22.6388,19.1796,16.999,16.315,10.5677,13.5517,12.4923,18.2131,19.5727,14.205],"stroke":"#07865c","width":1.5}],"guides":[{"label":"Range 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