FXstreet.com (San Francisco) - From an earlier high of 124.37, GBP/JPY has fallen to fresh 2-week lows below the 124.00 figure this Tuesday, weighed by Japanese exporter sales after the Tokyo fix, extending to as low as 123.69. Meanwhile, the Japanese government has downgraded its economic assessment
for the month of August. If the downward pressure continues to weigh on price in the hours and sessions ahead, the 123.25 support zone (7 Aug high) may limit slides. The 23.6% Fibonacci level at 122.23 (133.50/118.80 drop) may also attract bids.