• USD/JPY is currently trading around 104.91 marks.
   
• It made intraday high at 105.89 and low at 104.76 levels.
   
• Intraday bias remains slightly bearish for the moment.
   
• A daily close above 106.12 will take the parity higher towards key resistances around 106.72, 107.49, 107.90 and 109.13 levels respectively.
   
• On the other side, a sustained break below 105.42 will drag the parity down towards key supports at 104.62, 103.97, 102.45, 101.47, 100.59, 99.99, 99.27 and 98.78 levels respectively.
   
• Today Japan released SPPI data with positive numbers at 0.2% m/m vs 0.1% m/m consensus forecast.
   
• It's a leading indicator of consumer inflation - when corporations pay more for services the higher costs are usually passed on to the consumer.