• USD/JPY is currently trading around 112.40 marks.
   
• It made intraday high at 112.58 and low at 112.29 levels.
   
• Japan's factory sector expanded at a weaker pace than anticipated in the March quarter.
   
• The Bank of Japan Tankan manufacturing index of large-scale factories fell from 12 in the December quarter to 6 in the March quarter.
   
• In addition, Tankan Non manufacturing index also released with negative numbers at 22 q/q vs 25 q/q previous released.
   
• Pair remains well supported below 112.60 supports and confirms bearish trend for the moment.
   
• A daily close below 112.60 will take the parity towards 111.34 and 110.66 levels.
   
• On the top side, key resistance levels are seen at 112.60, 113.43, 113.98 and 114.28 marks.
   
• Since the start of the year the yen has grown around 7% against the US dollar, reducing the competitiveness of Japanese exports.