The Pound declined heavily against the Yen as investors dumped their risky assets and bought back the Yen, the downside wave took the pair to trade within an oversold area but the pair might continue its bearish wave to complete the 38.2% correction for the upside wave that started in 17th of March at 202.68, while to confirm any upside reversal the pair must climb back above the 204.00 level and should the upside reversal occur the pair might indeed reach the 206 levels.