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Commerz: USD/JPY & AUD/USD view


Commerzbank strategists expect USD/JPY to slide to the 93.75 support area in the coming weeks. In their view, the pair will remain under bearish pressure while the 99.97 level holds (4-month tren resistance). 

Chart. Daily USD/JPY


As for the Aussie, Commerz remains bearish and expects AUD/USD to retest $0.9040/9000 support zone (early and mid-July lows) in the near term. Longer-term downside target is seen at 0.8550 (50% retracement of the move up from 2008). Strategists will remain bearish below the $0.9390/9405 resistance (2011 low and 2009 high).

Chart. Daily AUD/USD


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