The following are UBS' latest short-term (mostly intraday) trading strategies for EUR/USD, USD/JPY, and AUD/USD.
EUR/USD: is trading in a tight range and the market is focused on the ECB meeting on Thursday. We don't see the pair breaking out of the 1.1280-1.1400 range and prefer fading moves to the extremes.
USD/JPY: We have seen a 150-pip retracement of last week's move and expect the pair to run out of momentum. Look to play it from the short side, with a stop above 120.
AUD/USD: We prefer selling rallies between 0.7300 and 0.7350, with a stop through 0.7410, targeting a move towards 0.7000.
