The yen has come under fresh selling pressure amid speculation that both Tokyo and Washington are opting for a stronger dollar.
Expectations of the dollar's rise against the yen began running high late last week amid reports that the Organization for Economic Cooperation and Development has nudged the Bank of Japan to buy foreign securities to funnel more money into the banking system.
In its latest analysis of world economic prospects, the OECD sounded skeptical about the Japanese government's commitments to structural reforms, pointing to the need for the BOJ to guide the yen's value lower.