GBP – BULLISH
1️⃣ Hopes that the UK could ease lockdowns sooner than expected due to the country’s fast deployment of Covid-19 vaccines.
2️⃣ British inflation rose a little more than expected in January.
3️⃣ The pound has also been supported this year by lessening expectations of negative interest rates and a post-Brexit trade deal with the EU.
JPY – BEARISH
1️⃣ The yield on the benchmark US 10-year Treasury note remained around 1.3% on Friday, close to near 1-year high of 1.33% touched on Wednesday.
2️⃣ Risk-on tone weighing on the safe-haven JPY.
We are looking to buy the GBPJPY on RBS + above SMA 50 on the H1 chart.
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