Japanese officials may have to try harder talking down the yen as technical indicators suggest Asia’s best-performing currency will keep running. The yen could be headed to 106.57 per dollar, the next key level, which would correct 38.2 percent of its decline from 2011 to 2015, based on Fibonacci calculations. The rally is erasing all the losses the yen has suffered since the Bank of Japan expanded stimulus in October 2014, and is raising questions of when Japan would intervene.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE