• USD/JPY is currently trading around 111.35 marks.
   
• It made intraday high at 111.88 and low at 111.25 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 111.88 marks.
   
• A sustained close above 112 will take the parity higher towards 112.60 and 113.42 levels.
   
• Alternatively, a daily close below 109.89 will drag the parity down towards key supports at 109.48 and 107.87 levels respectively.
   
• This week will be important as U.S. and Japan both will release monetary policy statements.