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

Haresh Menghani FXStreet

• 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

GBP/JPY

Overview:
    Today Last Price: 141.17
Today Daily change %: -0.18%
    Today Daily Open: 141.42
Trends:
    Daily SMA20: 139.47
    Daily SMA50: 142.11
    Daily SMA100: 144.45
    Daily SMA200: 145.48
Levels:
    Previous Daily High: 141.54
    Previous Daily Low: 140.69
    Previous Weekly High: 142.22
    Previous Weekly Low: 137.36
    Previous Monthly High: 145.52
    Previous Monthly Low: 138.86
    Daily Fibonacci 38.2%: 141.21
    Daily Fibonacci 61.8%: 141.01
    Daily Pivot Point S1: 140.89
    Daily Pivot Point S2: 140.37
    Daily Pivot Point S3: 140.04
    Daily Pivot Point R1: 141.75
    Daily Pivot Point R2: 142.07
    Daily Pivot Point R3: 142.6

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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