GBP/JPY Technical Analysis: Intraday bounce from 140.70-60 support gains traction post-UK jobs data

   •  The cross showed some resilience below 100-hour EMA and for the second straight session managed to find decent support near the 140.70-60 horizontal zone.

   •  Slightly better-than-expected UK wage growth data and an unexpected downtick in the UK unemployment rate provided a minor lift to the British Pound.

   •  Technical indicators on the 1-hourly chart regained positive traction and continue to hold in the bullish territory on 4-hourly/daily charts, supporting bullish bias.

   •  A follow-through up-move beyond the overnight swing high, around mid-141.00, will reinforce the constructive set-up and pave the way for additional intraday gains.

   •  However, a convincing break below the mentioned support might negate the positive outlook and prompt some aggressive long-unwinding trade amid Brexit uncertainties.

GBP/JPY 1-hourly chart