This verse does not indicate to whom this prayer is to be addressed, whether to the Father or to the Son, though in 15.16 and 16.23 the prayer is directed to the Father. It is important to translate in my name in such a manner as to avoid the possibility of interpreting the phrase as a magical formula to be attached to the end of a prayer.

In my name is always difficult to translate, and so it will be helpful to discuss this phrase in more detail. As was indicated in 1.12, in biblical thought the “name” of a person represents in some sense the person himself, and that is the basic clue to understanding the phrase in my name. In this Gospel the phrase occurs in several connections:
(1) Ask for in my name (14.13,14; 15.16; 16.23,24,26) This phrase, always related to a prayer context, is generally translated literally, perhaps due to the influence of Christian prayer practice. Goodspeed, one of the few to attempt a dynamic equivalent, uses “as my followers,” which suits the context in each instance. It is based upon the argument that in my name is equivalent to “because of your relation to me” or “because you are mine.” The meaning “on my authority” would also be satisfactory in each of these contexts.
(2) Give you in my name (16.23). In the discussion of 16.23 it will be shown that the phrase in my name can be taken either with the verb “ask” or with the verb “give.” Goodspeed‘s “as my followers” is suitable for either interpretation, and that is why this verse is included under the previous heading.
(3) Keep them safe by the power of your name (17.11) is literally “Keep them (safe) by (Greek en) your name.” (See also 17.12.) Most translations are similar to Good News Translation (see comments at 17.11). A suggested translation may be “Keep them safe by your own power.”
(4) That through your faith in him you may have life (20.31, literally “that believing you may have life in his name”) is translated “and through believing you may have life as his followers” by Goodspeed. Die Bibel im heutigen Deutsch is similar to Good News Translation: “If you believe in him, you have life through him.” See also the related passages at 1.12; 2.23; 3.18.
(5) With/by my Father’s authority (5.43; 10.25) is literally “in the name of my Father” (see also 12.13 in the name of the Lord). In each of these three passages the name of the Father/Lord represents his authority, and Good News Translation makes this meaning explicit in the two earlier passages. Most translations render 12.13 literally (but see Die Bibel im heutigen Deutsch “Praise God! Long live the one who comes in his behalf!” and Living Bible “Hail to God’s Ambassador!”). In 12.13 the meaning would also seem to be “the one who comes with the Lord’s authority” or “the one whom the Lord has sent.”
(6) Because you are mine is the meaning of the related phrase “because of my name” in 15.21. Goodspeed translates “on my account”; Die Bibel im heutigen Deutsch “because you acknowledge me”; and Living Bible “because you belong to me.”
(7) Send in my name (14.26). Here the phrase may be taken in any of several ways, all of which suit the context: (a) “because you belong to me”; (b) “because I ask him”; (c) “with my authority”; or (d) “in my place” (Goodspeed, Barclay). It is almost impossible to decide which alternative is most preferable.

That Jesus is not referring to irresponsible prayer in the expression whatever you ask is indicated by the goal of the prayer: so that the Father’s glory will be shown through the Son. The glory of the father is the one purpose which Jesus has in responding to the requests of those who pray. Most translators render this purpose clause “so that the Father will be glorified in the Son.” However, here as elsewhere “to be glorified” refers to a visible manifestation of the divine presence, and Good News Translation makes this explicit in its rendering. Die Bibel im heutigen Deutsch renders “so shall the glory of the Father be revealed through the Son.”

In some languages the passive expression so that the Father’s glory will be shown through the Son must be made active. This means that the Son becomes the agent who shows the Father’s glory. It may be necessary in some languages to render the Father’s glory “how glorious the Father is,” or “how wonderful the Father is,” for example, “so that the Son may cause people to see how wonderful the Father is.” However, in some instances it may be necessary for Jesus to identify himself in the first person and to indicate clearly his relationship to the Father, for example, “so that I may cause people to see how wonderful my Father is.” Since the relationship of Jesus to the Father is clearly indicated by the possessive pronoun “my,” it is not necessary to introduce a literal equivalent of “Son.”

Quoted with permission from Newman, Barclay M. and Nida, Eugene A. A Handbook on the Gospel of John. (UBS Handbook Series). New York: UBS, 1980. For this and other handbooks for translators see here .