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USD/JPY scope for another test of 111.05 – Commerzbank

In view of Axel Rudolph, Senior Technical Analyst at Commerzbank, spot could attempt a visit to the 111.00 area as long as 108.81/13 band holds.

Key Quotes

USD/JPY is retesting the 108.81/13 support zone, made up of the April and June lows. We expect this area to hold and for the cross to level out ahead of the April low at 108.13”.

“While it holds another attempt at breaking above the 111.05 current August high could still be made. Failure at the 108.13 April low would put the July 2016 high at 107.49 on the map”.

“Below 108.13 would target the 107.49 July 2016 high, then 106.50, the 61.8% retracement of the move 2016-2017”.

Australia: Wages to get a minimum wage boost - Westpac

Justin Smirk, Research Analyst at Westpac suggests that outside the minimum wage boost there is little else to drive a broader acceleration in Austral
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EUR/USD neutral, keeps the 1.1730/1.1885 range – UOB

The pair is seen sticking to the neutral stance for the time being, likely to gravitate within the 1.1730/1.1885 range in the next weeks. Key Quotes
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