EUR/USD: had a short squeeze at the Europe open and went as high as 1.2490 on dollar selling across the board. We struggle to see the trend turning around but will stay flexible for now and wait for better levels to sell. Fade a 40-50 pip move on either side with stops at 1.2400 or 1.2550.
USD/JPY: remained under pressure at the Asia open in continuation of the post-NFP price action…Everything towards 113 should be good levels to buy in the midterm; 112.40/50 will be crucial.
AUD/USD: has been bid with risk in Asia as China and South Korea reached a free-trade agreement…Stick to shots just for now but cut them at 0.8690, to sell at better levels.
UBS