by Alejandro S, February 9, 2022
by Alejandro Soto February 9, 2022
GBP/JPY
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Long
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H1
Table of Contents
H1
Fundamental – Supply and Demand
The Bank of England raised interest rates for the second time in three months last week. On the other hand, Bank of Japan is lagging in their monetary policy and no rate hikes are expected in the near term. 156.000 area is the beggining of last leg to the upside now turned support. Target January highs at 157.600
Trail stop loss with each R movement
Situation in Ukraine could shift current market sentiment to Risk Off in the near term which would favour the JPY
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Nice Alejandro, are you still in position?
Yes. Currently at 2.5 R in profit
https://www.tradingview.com/x/yVxInPda
Ended with 4R profit as expected
Well done!