The following are UBS' latest short-term (mostly intraday) trading strategies for EUR/USD, USD/CHF, and USD/JPY.
EUR/USD: has been volatile since early March and should respect the 1.0500-1.1000 range even though the Greek situation might change things quickly. We prefer to be short but will remain flexible and keep it tight.
USD/CHF: yesterday rebounded against both 0.95, where it had held thrice in the last month, and the 100-day moving average at 0.96, but was muted overnight. Go short ahead of 0.9640, the Fibonacci retracement of the mid-March to April sell-off.
USD/JPY: While Japan PM Abe's decision to appoint a former Toyota adviser to the BoJ's policy board could be positive for USDJPY, the pair is unlikely to break out of the recent range for now. Sell closer to 120, targeting 119.
