Additional areas of discussion came with the need for governments to place fewer austerity requirements in debt-troubled areas. These proposals were met with resistance from Canada, the United Kingdom and Germany, while the U.S., France, and Italy saw these ideas as favorable.

Member countries arguing for reduced austerity requirements have suggested that a slower pace in budget cuts will enhance flexibility and help restore fiscal order in troubled areas. With the depth of these discussions, it is clear that the G7 has placed its focus on bigger picture issues and that there is no perceived need to verbally influence Japan to alter its currency-weakening stimulus plans.

Opportunities for Investors

When looking at Japan's planned programs and their implicit approval by global banking bodies, there are ways for investors to benefit from long term movements likely to follow as a result of expected currency changes.

Specifically, this means selling assets that are denominated in Japanese yen. Continued weakness in the yen is expected for the long term, largely propelled by Japanese investors moving out of their domestic currency and into foreign bonds with higher yields.

These activities will drive up currency pairs like the USD/JPY, and put selling pressure on yen ETFs like the CurrencyShares Japanese Yen Trust ( FXY), ProShares Ultra Yen ETF ( YCL) and the Proshares Trust II ( YCS).

For investors focused on stocks, Japanese export companies should be an area of interest. The fast-weakening yen improves earnings prospects for companies like Toyota Motors ( TM), Sony ( SNE) and Honda ( HMC). Some of this upside activity has already been seen in Panasonic (the second largest TV manufacturer in Japan), which rallied strongly after releasing forecasts showing the company expects to return to profitability in 2013.

If you liked this article you might like

Watch Out for a Counter-Trend Rally in the Dollar Index

Want to Know Why Japan Stocks Are Lagging? These Charts Tell the Story

Intermediate Trade: Japanese Yen Trust

Intermediate Trade: Japanese Yen Trust

Foreign Equities Turning Lower Again

Yen: My Favorite Trade Idea for 2Q

Yen: My Favorite Trade Idea for 2Q