Fukushima. However, the Japanese public seemed to take responsibility and handled it with class and dignity.

The Nikkei (NKY, quote) has made substantial moves and a lot of that has to do with Abe and the head of the BOJ moving unconventionally realizing that the growth of China (FXI, quote) has created new opportunities and challenges.

Fortunately for Japan (EWJ, quote), much of the media and economists have been focused on events in Europe, geopolitics, and the betting game on the US FED. China's world ambitions are growing, at the same time they are trying to reign in an overheated economy laden with legacy cost debt. While away from the spotlight not only has the BOJ moved aggressively, but Abe has pushed Corporate Japan to change attitudes and act during this window of time.

The last arrow in his Quiver is the Yen (FXY, quote). I suspect that after a long consolidation of several months that the yen is about to make a substantial move, one in which criticism might be muted. The USA might view a more competitive and stronger Japan as valuable piece for world growth, and a shield in dealing with China.

If interested in my opinions, send me a note or give me an old fashioned call.

John is a Senior Broker at Sierra Mesa Trading and has been working with clients in the field of financial products for over 25 years. John can be reached at LinkedIn