Forex: USD/JPY still without direction

FXstreet.com (San Francisco) - USDJPY remains in a trend-less period ahead of Friday's Jackson Hole symposium, and traded back up into the 78.70 price zone overnight. Price saw little reaction to weaker than expected Japanese Retail Trade readings for July this Thursday.

Technically speaking, "Stuck in the 78.40/80 area for the past 3 days, intraday technical readings remain flat, with a limited upward potential as price pushes towards the high," observes Valeria Bednarik, Chief Analyst at FXstreet.com. "Shockingly positive news for greenback may see the pair advancing strongly yet gains beyond the 79.60 high area remain unlikely in the midterm."