The following are UBS' latest short-term (mostly intraday) trading strategies for EUR/USD, USD/JPY, and AUD/USD.
EURUSD: We are struggling to see value in shorts at current levels. Sell at 1.1060, adding at 1.1085, with a stop at 1.1110.
USD/JPY: We have seen some profit-taking ahead of the FOMC and BoJ meetings this week. Nothing is expected from the FOMC, but the BoJ could be a big event...The pair should stay supported heading into the meeting, so look to buy dips closer to 120.50, with a stop below 120.00. There is good resistance between 121.70 and 122.00.
AUD/USD: Despite the reaction of equities to last week's ECB meeting and China's rate cut, AUDUSD price action has been subdued. Fade rallies towards 0.7280 with a stop through 0.7310 and buy dips below 0.7200 with a stop below 0.7150.
