The following are UBS' latest short-term (mostly intraday) trading strategies for EUR/USD, USD/JPY, and GBP/USD.
EUR/USD: Softness continues, and there's still no reason to fight the trend. We still like being short, adding on any recovery near the 1.1098 previous low, with a 1.1155 stop. We would expect to see some demand around 1.1000, but overall it looks like the first real support is the 1.0765 low from September 2003.
USD/JPY: Buy USDJPY dips towards 119.50 with a stop below the week's low of 119.38. Resistance is 120.50 ahead of 121.80
GBP/USD: We would sell on rallies to 1.5270/80, targeting a test of 1.5200, with a stop above 1.5300.
