I actually agree with this analysis - based on the macro factors - projections are for a GBPJPY price point of 120. Not unrealistic.
Pound Outlook Dims as UK Central Bank Takes Dovish Crown From Japan
Few major currencies stand to lose out as much from the yen’s comeback as the British pound this year. Investors have been dumping sterling on the view that a weakening UK economy will prevent the Bank of England from being as hawkish as its counterparts in the rest of the world. The difference is most pronounced when compared with Japan, where years of super-easy monetary may be finally coming to an end, propelling the yen to levels against the dollar last seen in June. The pound’s yield advantage over the yen is already waning. The spread between 10-year UK and Japanese bond yields has narrowed about 10 basis ... (full story)