Well, there were two war scares between the end of the Russo-Japanese War and the outbreak of World War I -- one in 1907 and one in 1913, both brought on by Japanese outrage over American racism in California. In 1907, it was school segregation; in 1913, the passage of the Alien Land Act that forbade Japanese immigrants from owning land in California as part of a general movement towards exclusion.
Part of the response to the 1907 war scare was the dispatch of Roosevelt's Great White Fleet, that demonstrated that the United States could indeed move their navy from the Atlantic to the Pacific and keep them together, in a demonstration of American naval might.
In 1913, President Wilson and Secretary of State Bryan did their level best to calm Japanese anger. The General Board (the precursor to the Joint Chiefs of Staff) had considered war "not only possible but probable" and had issued orders to begin moving the United States fleet into position, including consolidating the Asiatic Fleet from across China and the Philippines to Subic Bay; when Wilson found out about it, he ordered them to cease at once lest it be seen as provocative, asserting most solidly civilian control over the military.
I've actually put together notes on the 1913 crisis for a TL I'm working up. The Panama Canal still wasn't ready at either point, so the US would have to send their fleet the long way around. Exercises conducted suggested that it would take over 3 months to get the fleet from Hampton Roads around to the war zone, and possibly longer, depending on Japanese actions.
The Japanese strategy, for their part, echoes some of what they did in the 1940s: defend far forward (probably seizing Guam), and harass the American fleet as it progressed west. At this point, the USN strategy was led heavily by the "Thruster" and "Through Ticket" groups -- so the intent would be to drive across the Pacific into the Philippines and meet the Japanese fleet there; the Japanese were equally as willing to oblige.
Technologically, the war is tilted in favor of the American fleet in 1913: they bring dreadnoughts, and quite a few of them, while the Japanese have primarily the same vessels they won the Russo-Japanese War with, amplified by a few new capital ships.
On the other hand, the Japanese also have advantages:
- they're closer to home waters (depending on how quickly the Philippines fall, they may even be sortieing out of Manila), not exhausted or harried, and can supply at shore, rather than in an improvised anchorage somewhere in the Philippines; and
- have a significant number of light ships they can deploy compared to the Americans, while the Americans have precious few cruisers to deploy and their destroyers will have to be either trailing along or being towed by the battleships; and
- they have actual combat experience of battleships fighting each other, which the Americans are lacking in.
These advantages may not tilt the balance in their favor into a Tsushima-style victory in a major fleet action, which the Japanese high command is plotting for -- but it may make it a much closer-run thing than it might appear simply by comparing the quality of the warships.