Analysts at Nomura claim that the greenback may strengthen to 82.5 yen by the end of the second quarter.

The specialists think that the demand for the Japanese currency may decrease in the coming months. Such assumption is base on the fact that in May there was a significant increase in outward portfolio investment via investment trusts.

In addition, although the nuclear power plants will be gradually restarted in the second half of 2011, there risk that shutdowns will last longer remains. Nomura believes that if the Asian nation doesn’t manage to restart nuclear generators under regular maintenance fuel imports may bounce by 500 billion yen ($6.3 billion) per quarter.

Nomura also advises to sell yen versus British pound.

Chart. Daily USD/JPY