• USD/JPY is currently trading around 109.11 marks.
   
• It made intraday high at 109.31 and low at 109.04 levels.
   
• Japan's trade surplus expanded from ¥242.8 billion in February to ¥775.0 billion last month, the highest since February 2011 but lower than the market forecast of a ¥834.6 billion surplus.
   
• In addition BOJ Kuroda said that, “He will scrutinise risks to economy, prices and won't hesitate taking more easing steps if needed to hit price target.”
   
• He added, “BOJ added negative rate policy to QQE to achieve inflation target at earliest date possible.”
   
• Intraday bias remains bearish till the time pair holds key
  resistance at 109.48 marks.
   
• A daily close below key support 108.68 will take the parity down towards 108.18, 107.43 and 105.72 levels.
   
• On the other side, a sustained break above 109.48 will take the parity towards 111.30/112.60 levels.
   
• On the top side, initial resistance levels are seen at 109.68, 111.30, and 112.60 marks respectively.