 Dollar has maintained its position as the strongest performer for the week, despite the noticeable waning of its upside momentum over the past two days. Today, markets anticipates the release of several US economic indicators, including PCE inflation and durable goods orders. However, the primary driver is likely to be any updates on the debt ceiling negotiations. Reports suggest that a deal is in the works that would increase the debt limit to USD 31.4T for a two-year period. However, both the deal itself and the market's response to it are fraught with considerable uncertainty. In other currency market developments, Sterling is attempting a bounce after encouraging retail sales data, but thus far, buyers seem to be demonstrating a lack of conviction. Meanwhile, the sell-off in Australian and New Zealand Dollars appears to be slowing down. Technically, USD/JPY is worth a watch for the rest of the week and the early part of next. It's been losing some upside momentum as seen in 4H MACD. Also, it has almost met the target of 100% projection of 127.20 to 137.90 from 129.62 at 140.32. Rejection by 140.32, followed by break of 138.22 support could mark the completion of the three-wave corrective rise from 127.20. If realized, the could set a bearish tone for other Yen crosses for the near term. | 
