GBP/JPY Technical Analysis: 3-week old descending channel continues to cap ahead of UK jobs data

   •  The cross continued with its struggle to make it through over three-week-old descending trend-channel as traders now look forward to the UK employment details for some fresh impetus.

   •  However, the fact that technical indicators on hourly/daily charts have managed to hold in the bullish territory support prospects for an eventual breakthrough the mentioned channel.

   •  A follow-through move beyond 100-day SMA will further reinforce the constructive outlook and set the stage for a move back towards retesting over two-month tops, around the 145.00 handle.

   •  The slightest of a positive surprise from the latest UK jobs report might be enough to provide the required momentum, albeit Brexit uncertainties might keep a lid on any runaway rally.

GBP/JPY 4-hourly chart