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.
GBP/JPY May 25 at 05:05 GMT
152.83/01 (-0.23%)
H153.26 L 152.92
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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Any opinions, news, research, analyses, prices or other information contained on this story, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
