The following are UBS' latest short-term (mostly intraday) trading strategies for EUR/USD, USD/JPY, and AUD/USD.
EUR/USD: has struggled to get above 1.1100, with the 200-day moving average just slightly above this at 1.1114. Look to sell around 1.1060/1.1080, with a stop above 1.1115, targeting a move below 1.1000.
USD/JPY: remains between 120.00 and 121.25 ahead of the BoJ meeting on Friday. We continue to see profit-taking and selling interest from locals above 121.00. Buy USDJPY at 119.80/120.00, with a stop at 119.50, for a move towards 121.00.
AUD/USD: The market seemed to be caught wrong-footed and next week's RBA meeting is being re-priced. We expect the pair to remain soft so sell rallies to 0.7170/0.7200, with a stop above 0.7275 where the short-term trend line comes in, targeting a test below 0.70
