4/27 Achieve high income from side jobs through FX trading
＜4/26 USD/JPY results＞
Tokyo range: 127.35=128.20, NY range: 127.03=68
Yesterday's analysis stated that “the strong upward momentum aiming for 130 yen would end for now, and from today onward the market would measure the magnitude of a corrective phase,” and three scenarios were illustrated, but it turned out to be Scenario (2).
“(2) Furthermore, if this week's decline breaks below the weekly point zone of 127.20=50, until May the price will not surpass the high of 129.40 on 4/20, and will unfold around the 126=128 yen zone.”
＜4/27 Tokyo USD/JPY outlook＞(as of 8:00)
As pointed out yesterday, the current market is
（A）a corrective decline from the high
（B）a transition to a short-term downtrend due to reaching the immediate target of 130.00 yen
In conclusion, not a corrective decline, but for this week the market is viewed as a downtrend aiming at the maximum “monthly point zone” of 125.95=126.25.
Whether it turns upward afterward or continues to fall will be determined by whether the next bottom support at around 126 yen is held or broken.
From the above, today 4/27 Tokyo trading ideas are:
（A）Ideally, a retreat/short covering in the upper zone of 1227.40=70
（B）From selling, take profit at the lower zone of 126.65=80. After taking profit, if it breaks lower, re-enter new selling; and aim to take profit and initiate new buying in the best “monthly point zone” of 125.95=126.25
＜4/27 Tokyo USD/JPY chart/analysis＞
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