Trade Ideas are short term (mostly intraday) forex strategies realesed daily by UBS analytics. In todays release we can get to know with their ideas for such currency pairs like EUR/USD, GBP/USD and USD/JPY.

EUR/USD

Fridays strong non farming payrolls caused EUR/USD plummet. We have seen the first signs of profit taking on a 70-pip squeeze higher. With yield spreads widening actual situation should be short lived and it is probably better to sell rallies. We expect range trading today and prefer selling ahead of 1.0800.

USD/JPY

The most trending pair after last Friday. Now, it is almost 160 pips above pre-NFP levels. Nevertheless UBS is still bullish on USD/JPY, selling JPY at this level is not recommended. We better wait until 123.00, then try to find a buying signal. There is good support at 122.50/60.

GBP/USD

GBP/USD after Super Thursday was already weak, so another bearish information didn’t cause such damages on chart. The main event this week will be ILO unemployment data on Wednesday. GBPUSD support at 1.5000 and 1.4960. Resistances at 1.5092 and 1.5133.