Wednesday scanning

JP Morgan

Position selectively for further deleveraging of short-term speculative positions and longer-term bond positions following the biggest rise in interest rate volatility in 2-1/2 years and spillover to more unstable equity/FX conditions, but avoid big positions due to payrolls and unattractive entry points. Sell AUD and IDR vs USD. Buy CHF vs EUR and USD. Took profits intra-period on long USD vs CAD, CHF and JPY.

UBS

EURUSD NEUTRAL The latest strength suggests there is potential for extension to test the resistance at 1.3194 and then 1.3243. Support is at 1.2934 ahead of 1.2797. USDJPY BEARISH Any upside will be limited in time and extent, as the broader focus is for a break below support at 97.31, extending weakness to 95.79. Resistance is at 100.73 and 101.31. GBPUSD NEUTRAL The recent advance found resistance at 1.5378. A closing break above which would be positive, signalling scope for a move upside to 1.5606. Support is at 1.5169 ahead of 1.5009.