Since May 3, the British Pound has depreciated about 357 base points against the Japanese Yen. The pair was pressure south by the 50-, 100– and 200-hour simple moving averages.
Most likely, the decline could continue during the following trading sessions. The potential downside target for the exchange rate will be near a support cluster at 142.35.
If the support cluster holds as mentioned above holds, a possible bullish momentum could take control of the currency exchange rate within the coming days.
