UJ short upside limited given recent fundamentals. Supported by DXY reaching 98 and showing signs of a rejection on 4hr TF. "Despite the renewed strength, the growing recession fears, as signaled by the US 2-year-10-year Treasury yield curve inversion will continue to keep the bulls on the edge. Therefore, any upside in the pair is likely to be short-lived, as the demand for the safe-haven Yen is likely to remain underpinned amid market panic and unrest"
Confluences: CS , Fib, 106 Psycho zone and DXY rejection off 98 level.
To look out for: The US Retail Sales data release!
DXY:
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Retail sales data came out positive and as such has given the greenback more pushing power to the upside! UJ continues it's push upwards;