20/10 UBS Intraday: USDJPY short side


20 October, AtoZForex.com, Amsterdam  Forasmuch as the ECB meeting nears, the Swiss global financial services company has provided its latest 20/10 UBS intraday setups. A given tool that traders need to acknowledge. Today, the intraday outlook is focused on the major currency pairs EURUSD, USDJPY and AUDUSD.

EURUSD 

Building further on yesterday’s trade setup, UBS clarifies that the pair is still trading in a tight range. Notwithstanding, the market remains focused on the ECB meeting, this coming Thursday.

Read also: EURUSD Fibo targets

However, the Swiss bank does not see the pair: “Breaking out of the 1.1280-1.1400 range and prefer fading moves to the extremes.”

USDJPY 

Moving onto the next pair, UBS denotes that over last week’s move there was a 150-pip retracement for USDJPY. The bank now expects that: “The pair is to run out of momentum. Look to play it from the short side, with a stop above 120.”

AUDUSD 

Last but not least, the Swiss bank analysis on Aussie depicts: “We prefer selling rallies between 0.7300 and 0.7350, with a stop through 0.7410, targeting a move towards 0.7000.” 

Read also: GBPUSD profit hunt

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