Chart speaks for itself.
If the Yen is beginning a 3 wave down after finishing a TEN yr. move up , the downside potential gets really intresting; for instance the move down in the mid 90's was from 125 to 68 , so IF this leg is a 3 or C down AND it equals A you're talking about it losing half it's value vs USD.
Hard to imagine right now. But then the unimaginable seems to be happening more frequently."
More recently awareness around the blogosphere re Japans fundamental sovereign debt problem has started to increase. See Mish's Budget Deficits Soar Out of Control in Eurozone, Germany, US, UK, Japan; Yen's Last Hurrah.