Via eFX comes this – S/T Trading Strategies For EUR/USD & USD/JPY – Barclays (bolding is mine):

The following are Barclays Capital’s latest short-term technical trading strategies for EUR/USD and USD/JPY.


  • We prefer to fade upticks towards the 1.2615 area for a move below 1.2440.
  • Our initial downside targets are in the 1.2340 area.
  • Beyond there we are looking for further downside towards 1.2100/1.2040 over the coming weeks.


  • The move above 114.20 encourages our bullish view.
  • We are targeting 115.35.
  • Dips should find buying interest in the 112.45 area

More along these lines at eFX