Where To Sell EUR/USD, AUD/USD, & To Buy USD/JPY? - UBS

The following are UBS' latest short-term (mostly intraday) trading strategies for EUR/USD, USD/JPY, and AUD/USD.

EUR/USD: Although the heavy tone continues, support has held well around 1.1260-70 since the end of January. Sell rallies toward resistance at 1.1420-40.

USD/JPY: is back in a tight range despite the strong US payrolls on Friday. We think 118.50/55 is an attractive entry level with short-term support at 118.20/30. The daily Ichimoku cloud top at 119.05 forms resistance ahead of the December downtrend around 119.10

AUD/USD: We feel there is still some more room for correction but the pair remains a sell on rallies. Establish fresh shorts at 0.7950- 0.8000 with stops above 0.8100; watch for moves to 0.7885 intraday.

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