• USD/JPY edges lower from session high at 102.25 after the release of the Chinese trade report, which revealed that the country’s imports slumped sharply last month.
   
• China Imports CNY (Y/Y) for July dropped -5.7 percent (exp -1.1 percent prev -2.3 percent), while China Imports USD (Y/Y) for July slumped -10.5 percent (exp -7.0 percent prev -8.4 percent).
   
• A steep drop seen in the Chinese imports data underscored demand concerns weighing on risk appetite. 
   
• USD/JPY trades a narrow range in the Asian session, hovers around the 102 handle after a brief dip below.
   
• The pair has held above major trendline support (currently at 101.10), weakness only on break below.
   
• 10-DMA at 102.68 is next major resistance on the upside, break above could see gains upto 104.35 (falling trendline).
   
• Techs are inconclusive, we prefer to wait for better indication. US labour market conditions index due later in the NA session in focus. 
   
• China’s CPI and industrial production figures along with the US retail sales data, due later this week will also be closely eyed .