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GBPJPY buy

by Alejandro S, February 9, 2022

GBP/JPY H1 Fundamental - Supply and Demand

by Alejandro Soto February 9, 2022

4
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GBP/JPY

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Long

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H1

Timeframe:

H1

Analysis Method:

Fundamental – Supply and Demand

Analysis:

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

Risk Management:

Trail stop loss with each R movement

Things To Watch For:

Situation in Ukraine could shift current market sentiment to Risk Off in the near term which would favour the JPY

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