The following are UBS' latest short-term (mostly intraday) trading strategies for EUR/USD, USD/JPY, and AUD/USD.
EUR/USD: moved just enough yesterday for all short-term players, including us, to cut positions, but the overall view remains unchanged. Keep it tight and only get involved around 1.0570/1.0680 with stops above yesterday's high.
USD/JPY: lost ground while EURJPY had a strong squeeze. We want to play the range in the pair - i.e. sell above 120 with a stop above 120.50 and buy ahead of 119 with a stop below 118.70.
AUD/USD: remains rangebound despite weak China data of late. Range trading should persist ahead of the Australia jobs data. Play the ranges in both until we see a fair breakout. Sell AUDUSD at 0.7650 and buy at 0.7520.
