The risk of an unexpectedly weak yen next year cannot be ruled out, and would mean a chunky rally for Japanese equities, according to JPMorgan Chase & Co. The Nikkei 225 Stock Average could hit 28,000, about 25 percent higher than current levels, if the yen weakened to 125 per dollar, strategists including Ryota Sakagami and Tohru Sasaki wrote in a note Thursday. While this is not their base case, such a scenario is not impossible, they said. “If the yen weakens substantially, the outlook for Japan’s stock market in 2019 would likely change,” they wrote. “We would expect the Nikkei 225 to head toward 28,000.” A ... (full story)