The rate broke out of the recent squeeze to the upside. By the middle of Wednesday's GMT trading hours, the pair had reached and tested the resistance of the 200-hour simple moving average at 105.20 level.
Future forecasts were based upon whether the 200-hour SMA manages to keep the USD/JPY rate down.
Economic Calendar
Throughout the whole day the Markit institute is set to publish Manufacturing and Services Purchasing Managers Indices. The indices are the result of a major survey of firm representatives.
At 13:45 the US PMIs will be released. These PMIs could impact the USD/JPY through the strength of the USD.
On Thursday, as accustomed, at 12:30 GMT, the US weekly Unemployment Claims could cause a move.
The week will end with a possible minor move from the US Durable Goods Orders at 12:30 GMT.
Click on the link below to find out more about the data releases.
USD/JPY short-term daily review
On Tuesday, the USD/JPY currency pair raised to the 200-hour SMA near 105.15.Hourly Chart
Since Monday, traders of the Swiss Foreign Exchange were long, as 57% of all open position volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range were 65% to sell.
The orders were 52% to buy on Tuesday.