JOURNALING

GBPJPY is this Sterling vs Japanese fight will continue to rally?

GBPJPY
Sterling rose up against Japanese yen and it approaches the peak level which
wasn’t reached for eight years so the question here is how far is sterling will
dominate and FYI Bank of England Governor’s Andrew Bailey said recently that
interest rates could get even higher in the UK to control prices, potentially around
6%.
 GBPJPY
23/8/2023

After rallying for a while price broke 4H BOS which indicates the start of the
countertrend this means we have to go down for a while up to 5 Normal
Invalidation before we continue rallying again.
I took a trade, I short it with 1% risk and only one trade was executed we get the
rewards of 296 Pips and the sl was 50 Pips on this pair, the reason I adjusted the sl
is because our entry was triggered on Monday and as we know we have a lot of
Manipulation on Monday and market might misbehave so I give the pair some time
to breath.
Here’s MT4 results
And here’s a Trading view results with a Buy at our level.

We entered manually at 15 Normal inv though price came to react at 5 Normal inv
as we anticipated before, we have 1% risk trade on this and only one trade taken
and the sl is 25 pips.
Another rally is expected, LET’S GOO.
Here’s a Trading view result of that BUY/LONG
MT4 results are here.