Tokyo stocks will likely test multiyear highs in 2013 if the yen continues its recent downward trend on expectations for monetary easing from the Abe government and continued signs of recovery in major economies.

Market analysts predict the Nikkei stock average, which broke the 10,000 threshold in late December, will move between 9,000 and 12,500 this year while the dollar, which was trading at a 27-month high in the ¥85 range at the time, will move between ¥78 and ¥93.

The euro is likely to move between $1.1800 and $1.3600, and between ¥97 and ¥122, the analysts said.