GBP - BULLISH
1️⃣ Investors hope for a quicker economic recovery in the UK due to the continued success of the vaccination rollout programme coupled with massive fiscal and monetary stimulus packages.
JPY - BEARISH
1️⃣ The recent passage of a massive US stimulus package boosted sentiment
2️⃣ Positive risk tone weighing on the safe-haven JPY.
=====
Technical
=====
We are looking to buy the GBPJPY at RBS + above SMA 50 on the H1 chart.
=====
Risk to this trade
=====
Any change in sentiment could turn the pair's direction.