The USD/JPY has been consolidating by trading sideways near the weekly S1 simple pivot point at 105.37.
Moreover, on Tuesday, the rate retraced back up to the 55-hour simple moving average.
Economic Calendar
Notable macroeconomic events are set to start with the biggest and most important of them all, the Federal Reserve is scheduled to make a Rate Statement and Rate Announcement on Wednesday, at 18:00 GMT.
On Thursday, pay attention to the US Advance GDP and the weekly US Unemployment Claims that should be published at 12:30 GMT.
Click on the link below to find out more about the data releases.
USD/JPY short-term daily review
During today's morning, the pair was testing the 55-hour SMA near 105.75.Hourly Chart
On Monday, on the Swiss Foreign Exchange 53% of open position volume was in long positions.
On Tuesday, the sentiment was 52% short.
Meanwhile, trader set up pending orders in the 100-pip range were 58% to buy.
The orders were previously 71% bullish.