The following are UBS' latest short-term (mostly intraday) trading strategies for EUR/USD, USD/JPY, and AUD/USD.
EUR/USD: had an amazing turnaround from Thursday's opening, maintaining the big range play. We still prefer playing the intraday moves. EURUSD should remain supported into the year-end with the trendline around 1.1200 and the 100/200-day moving averages at 1.1170/1.1135. Although we expect plenty of sellers above 1.1500 for the time being, the pair should head back above 1.1700 at some point.
USD/JPY: Market players seem a bit wary after the sharp moves over the past few days and some may reduce their positions. Sell rallies to 119.30/50, with a stop at 119.70, targeting 118.50, followed by 118.00.
AUD/USD: failed to break above 0.7400 yesterday, stalling the upside momentum. Sell rallies to 0.7320, for a test of 0.7210
