The Olyroos and Matildas face huge challenges to make it out of their group and be medal contenders in Tokyo.
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The men's team will meet Argentina on Thursday night, before playing Spain on Sunday and will need at least one point from those games, to keep their hopes alive for the final game against Egypt.
Spain have Pedri, Eric Garcia, Dani Olmo, Unai Simon, Mikel Oyarzabal and Pau Torres in their squad, who all featured in the European Championships and only beaten by eventual champions Italy in a semi-final penalty shootout.
So they'll prove very hard to beat and while Argentina have fewer overage players, will no doubt still possess great quality.
It's a great opportunity for Sydney FC defender Joel King, from Shellharbour and Central Coast's Kye Rowles, who was born in Wollongong, to perform on the world stage.
King had a fantastic campaign with Sydney FC, making it to the A-League grand final and now the Olympics and I'm sure will show he can match it with some of the best under 23 talent in international football.
Australia warmed up for the competition with a 1-nil victory and 2-nil loss against New Zealand, but Graham Arnold will have gained an insight into how the team will line-up against Argentina and his experience at the top level will ensure the Olyroos will be ready.
For Caitlin Foord and the Maitildas, the time has come for them to make a breakthrough at a major tournament.
Their first game is against New Zealand on Wednesday night, before taking on world No.5 Sweden and No.1 ranked United States.
They've had some exciting games against the US, while coach Tony Gustavsson is from Sweden, so hopefully that will offer some vital insight to help them make it through to the knockout games.
We've seen the likes of Foord (Arsenal) and Sam Kerr (Chelsea) move into the major European leagues and it will help them prepare for the big occasions, having been knocked out by Brazil in the quarter finals in Rio de Janeiro.
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Australia and New Zealand will also obviously be hosting the 2023 World Cup, so just imagine the boost winning a medal in Tokyo would have.
This Matildas squad is something of a golden generation, like the 2006 World Cup Socceroos and hopefully they can make the most of their chances.
TOKYO OLYMPICS
Olyroos games (Group C)
Thursday v Argentina (8.30pm AEST)
Sunday v Spain (8.30pm)
Wednesday v Egypt (9pm)
Matildas games (Group G)
Wednesday v New Zealand (9.30pm)
Saturday v Sweden (6.30pm)
Tuesday v USA (6pm)
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