USD/JPY Price Action Analysis - Fibo resistance level crossing for breakout

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Sergey Golubev, 2015.08.13 14:20

UBS AG: short-term strategies for EUR/USD, USD/JPY, AUD/USD (based on efxnews article)

UBS AG is a Swiss global financial companymaking currency forecasts and some prediction for EUR/USd and some other pairs. They are often publishing some trade ideas and reviews concerning technicals and fundamentals.

For example, this is their well-known prediction for USDCNY immediate after first CNY devaluation: "We now expect USDCNY trading at about 6.5 by end 2015E instead of 6.3 as previously envisaged, and 6.6 at end 2016E."

So, please find below very short ideas from UBS concerning EUR/USD, USD/JPY and AUD/USD. Those idea can be valid for tomorrow and for coming week as well:

1. EUR/USD: "remains in the 1.0800-1.1200 range, though it has traded bid since the yuan devaluation. Stay flexible and trade the intraday moves."
2. USDJPY: "With the market calming down in China, we think USDJPY is a buy on dips close to 124, with a stop below 123.50."
   
3. AUD/USD: "has recovered sharply after an initial fall following the yuan devaluation.  Sell any rallies towards 0.7400, with a stop above 0.7425."

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Sergey Golubev, 2015.08.14 11:28

EUR/USD, USD/JPY, EUR/GBP, AUD/USD - Intraday by SEB (based on efxnews article)

Skandinaviska Enskilda Banken (SEB) made some intra-day analysis for few pairs whch may be used for the next week for example. Those pairs are the following: EUR/USD, USD/JPY, EUR/GBP and AUD/USD. This is very short technical analysis for good s/r levels and for the direction to be followed:

EUR/USD: "The failed move below 1.1126 (and the created downside spike) keeps the short term wave pattern unclear. As long as 1.1190 remains unbroken there’s still a possibility that an upward correction ended the other day but if making way above the resistance new highs should be penciled in."

USD/JPY: "With the pair still below the mid body resistance downside risks are increasing. If also today manages to stay below 124.68 then downside risks will be even further enhanced going into next week. A move below 124.07 will likely lead to a loss of the 123.79 key support."

EUR/GBP: "The ongoing correction has still room to move a bit further north. The primary target for the move is 0.7176 with a possible extension towards the trend line at 0.7200. Once there look for offers to be returning."

AUD/USD: "After the latest rejection from the 2001 trend line the pair fell down but only to a marginally new low. Price action with no follow through selling together with a bullish divergence hints of an overly oversold market and therefore also an increasing reaction risk. Shorts should be very cautious should we break above 0.7440 (if such a move takes place today it will also create a bullish key week reversal)."