The following are UBS' latest short-term (mostly intraday) trading strategies for EUR/USD, USD/JPY, and AUD/USD.
EUR/USD: Liquidity feels poor and explains the wide ranges. This trend will likely continue. Keep it tight and stay flexible, fading 70-80pip moves with stops at 1.0395 and 1.0635.
USD/JPY: is muted ahead of the BoJ decision tomorrow and the FOMC on Wednesday. There's very little turnover but there seems to be persistent dip-buying interest. Buy ahead of 121.00 with a stop below 120.50. First resistance lies at 121.70 ahead of 122.10.
AUD/USD: The pair should trade sideways today. We still favour selling rallies to 0.7700-0.7750 with stops above 0.7825, targeting last week's low of 0.7560.
