Economic Calendar
The pair might react to the Thursday's release of the US Core PCE Price Index at 12:30 GMT.
On Friday, note the US ISM Manufacturing PMI at 14:00 GMT.
Hourly Chart
Next target for the surge could be the 137.00 mark, which might act as resistance.
However, a potential retracement back down might look for support in the 136.60/136.70 zone and the weekly R1 simple pivot point at 136.50.
USD/JPY daily chart's review
On the daily candle chart, the rate no longer respects the 2002 high level as resistance or support.Meanwhile, a support zone has been spotted at 131.25/132.00.
Daily chart
On the Swiss Foreign Exchange, traders are 73% short 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 70% to buy the USD against the JPY.
On Tuesday, traders were 75% short and pending orders were 60% to buy.