How Far Can The Japanese Yen Fall?

If you read the financial news, most of the charts you see on the Japanese yen probably go back about 5 years making the recent devaluation against the U.S. dollar look massive:

However, if you zoom out a few decades you see that as recently as 1971 the Japanese yen traded at 350 to the U.S. dollar! Even though it has fallen from 76 in late 2011 to 119 this week it has been strengthening for decades leading up to the recent decline. 

A longer term chart helps show there could potentially be a long way to fall from here.....

h/t John Mauldin