TOKYO, Feb 13 (Reuters) - Japan's Nikkei share average is set to edge lower on Wednesday after a pause in the yen's downtrend, likely triggering profit-taking on stocks that have gained sharply such as financials and exporters. Market players said the Nikkei was set to trade between 11,300 to 11,400 on Wednesday, after rising 1.9 percent to 11,369.12 on Tuesday. The index, which is within reach of a 33-month high of 11,498.42 struck last Wednesday, has gained 31 percent since mid-November. Nikkei futures in Chicago closed at 11,380, up 0.088 percent from the close in Osaka of 11,370. Market analysts said the underlying mood remained positive after a U.S. Treasury official on Monday voiced support for Japan's aggressive policies to combat deflation and bolster growth. But the market may be prone to short-term volatility until the weekend, when Group of 20 finance chiefs are scheduled to meet in Moscow to discuss monetary policy. "The Japanese market will likely stay sensitive to officials' comments until the G20 meeting this weekend. Any comments on a foreign exchange level could move the market," said Takuya Takahashi, an analyst at Daiwa Securities. Investors will also focus on individual stocks based on their earnings, such as Gree Inc., which disappointed the market with poor earnings and cut its profit outlook. The yen plunged late on Monday after U.S. Treasury Undersecretary Lael Brainard said the United States supports Japan's effort to end deflation and stimulate growth. She later clarified that Japan needed to honor its G7 commitment on market-determined exchange rates. The yen rebounded on Tuesday after an official from the Group of Seven said there were concerns about excessive movements in Japan's currency. The dollar last traded at 93.27 yen, down from a near 33-month high of 94.41 yen, while the euro shed more than one yen to as far as 125.00. > Wall Street ends slightly higher, Dow near a record > Yen rallies as G7 official says concerned about weak currency > Prices dip before retail data; G7 remarks spark short covers > Gold rebounds; palladium at 17-month high > Oil rises on new forecasts for demand growth STOCKS TO WATCH --Gree Inc Social game site operator Gree said Tuesday its group net profit in the July to December period fell 18.3 percent from a year earlier to 18.12 billion yen and cut its full-year outlook due mainly to a delay in the release of some game titles. Gree now expects to post an operating profit of 50 billion to 60 billion yen for the full year through June, down from 74 billion to 84 billion yen forecast earlier. --Amada Co Major sheet metal processor Amada said Tuesday that it will make a tender offer for Miyachi Corp with the goal of turning the welder manufacturer into a wholly owned subsidiary. Amada, which seeks to buy all of Miyachi's outstanding shares by mid-June, will likely spend as much as 10 billion yen on the purchase. The tender offer runs from Wednesday to March 21, and Amada is offering 870 yen per share.