Yen vs Euro

Historical data shows that the yen has had difficult times against the Euro,it can be seen below as to how the Yen has become expensive compared to 1 euro since October 2006 till early February 2007:

Japanese Yen to 1 EUR (invert,data)



Source: Graph taken from x-rates.com


This week however is different for the yen , it is showing signs of recovery not only against the euro but also against the dollar , this happened after the G-7 meeting held in Germany where a weaker yen was not displayed at all bringing confidence in the investors. I feel that the yen will recover slowly and steadily ,since the global volatility may continue to bring about more investors wold sell the yen to fund long-yielding assets at times of volatility. What do you guys think, will the yen continue to rise against the euro and the dollar?