USD/JPY has soared from 75 to over 100 in the course of 6 months and we may be at the cross roads of a change. Over the weekend Kuroda didn't give any indication that the BOJ was growing concerned over the sharp sell-off in the yen, he merely said they'd be watching the markets for asset bubbles but they currently saw no indication of a problem. About a week ago Amari, the Japanese Economy Minister, said something quite different. He stated that further yen weakness would hurt the Japanese economy, which in turn spurred a rather significant rally in the Yen... It wouldn't be surprising to me if these comments partially had to do with the strong sell off we saw last week in the Nikkei. All in all, I think investors shouldn't expect to see an increasingly robust Japanese economy but they shouldn't expect to see further weakness in the Yen. Given the Yen's recent severe depreciation, any responsible central bank wouldn't do anything to see it depreciate further until the effect on the economy from the recent move becomes clear. Looking at a chart of USD/JPY the Yen appears to have at least put in a short term top, and with comments like Amari's I wouldn't expect to see further weakness caused by the BOJ.