Buying GBPJPY; taking position on BoE Minutes

In less than one hour left to US market close, I decided to buy GBPJPY to have a position on tomorrow MPC Minutes. I think the interest rate differential would work in favor of sterling, at a time when equity markets are struggling to pass inflationary pressures from soaring food and energy prices.

As always, there are some risks to the position. Japan Leading Indicator and BoJ Minutes of Board Meeting are ahead, though I think any effect would be temporary and should it come against my position it could make opportunity for increasing the size.

Regarding not encouraging data from US, buying GBPUSD would be an option especially if improvement takes place in technical aspects.