Order the following events that lead to an appreciation of the Yen in the foreign exchange market: A) Investors expect higher returns from Japanese stocks, B) Demand for Yen increases, C) The value of the Yen appreciates, D) Investors convert their currencies to Yen to purchase stocks.

To understand how the Yen appreciates in the foreign exchange market, we start with investors expecting higher returns from Japanese stocks. This expectation leads them to want to invest in Japan, which means they need to buy Yen to purchase these stocks. As more investors convert their currencies into Yen, the demand for Yen increases significantly. When demand goes up, the value of the Yen appreciates against other currencies. So, the sequence of events is that investors expect better returns, they convert their money to Yen, demand rises, and finally, the Yen's value increases.