However, future outlook was set to be dictated by the US Federal Reserve Rate hike on Wednesday at 18:00 GMT.
Economic Calendar
The top event of them all is set to take place. On Wednesday, at 18:00 GMT, the US Federal Reserve is set to hike its Federal Funds Rate.
Hourly Chart
An extension of the ongoing recovery of the US Dollar against the Japanese Yen would face the 132.50 mark and the technical levels that surround it. Higher above, note the 134.00 mark and the weekly R1 simple pivot point.
On the other hand, a decline of the USD/JPY would look for support in the weekly S1 simple pivot point at 130.53 and the 130.00, 129.50 levels.
USD/JPY daily chart's review
On the daily candle chart, the pair has bounced off the resistance of the 200-day simple moving average near 137.70 and has declined to the 130.50/131.40 support range.Daily chart
Before the Fed rate hike, on the Swiss Foreign Exchange, traders were 61% bearish, as that amount of open position volume was in short positions.
Meanwhile, trader set up pending orders in the 100-pip range around the rate were 53% to sell the USD against the JPY.