• USD/JPY is currently trading around 109.87 marks.
   
• It made intraday high at 110.23 and low at 109.83 levels.
   
• Today Japan released trade balance data with positive numbers at a surplus of ¥430 billion, above the ¥270 billion surplus seen, while imports plunged 23.2% and exports eased 10.1%.
   
• Intraday bias remains bearish till the time pair holds key resistance at 110.58 marks.
   
• A daily close above 110.58 is required to take the parity higher towards key resistances around 111.34 (April 05, 2016 high), 112.60 (55D EMA) and 113.42 levels respectively.
   
• Alternatively, a sustained break below 109.69 will drag the parity down towards key support area at 108.27, 107.94, 106.15, 105.71, 105.45 and 104.55 levels respectively.
   
• Over the weekend, G7 policy makers agreed to avoid currency devaluation and as a result, Asian markets opened with lower note today.