• USD/JPY is currently trading around 109.05 marks.
   
• It made intraday high at 109.58 and low at 108.93 levels.
   
• Today BOJ’s policy board member comments on the current economic conditions of the Japan.
   
• He said, ‘Global economic slowdown to continue for time being’. He added Japan’s economy is likely to avert recession.
   
• According to Sato, BOJ must take balanced approach in achieving its mandate of price stability and financial stability but negative rate policy may hurt that balance.
   
• Intraday bias remains bearish for the moment.
   
• A sustained break below 108.72 will drag the parity down towards key supports at 107.94, 106.15, 105.71, 105.45 and 104.55 levels respectively.
   
• On the other side, a daily close above 110.44 is required to take the parity higher towards key resistances around 112.60 (55D EMA) and 113.42 levels respectively.