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Different views on USD/JPY

Commerzbank strategists are skeptic about the current USD strength and expect the pair to reverse to the downside from 99.55: "Over the coming weeks we allow for losses back to the 94.39/93.75 support area". 

Meanwhile, Bank of America Merrill Lynch is bullish on the pair: "The 3-month bearish range is just about to complete. The near-term weakness should be bought. Upside targets are seen to 106.00/105.80, potentially 109.80". 

Chart. Daily USD/JPY


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