Final answer:
The Japanese yen experienced a drastic depreciation in 2013 and 2014, but from 2016 to 2020, it appreciated by about 13% against the U.S. dollar.
Step-by-step explanation:
When assessing the value of the Japanese yen relative to the U.S. dollar, it's essential to look at the currency exchange rate trends. According to the provided context, there was a drastic depreciation of the yen by about 14% in both 2013 and at the end of 2014. Examining the trend from 2016 to 2020, there was an appreciation where the exchange rate moved from 118 yen per dollar to 103 yen per dollar, which represents an appreciation of about 13%. Thus, based on the most recent data provided, the yen is appreciating.