GBPJPY Technical Analysis 1st November 2024 1h chart

GBPJPY Technical Analysis 1st November 2024 1h chart
– Thursday Daily candle closed strong Bearish at 196.070 retesting the previous Daily Consolidation Zone. I’ll be looking for potential Buys above 196.380 targeting previous Daily Support formed on 24th October 2024 around 196.930 Leaving Runners to the previous Hourly Support formed at 197.430. I’ll be looking for potential Sells below 195.680 targeting Hourly Rejection formed on 22nd October 2024 around 195.080 Leaving Runners to the 4h Support formed on 21st October 2024 around 194.640. As the monthly candle for October approaches its close, price action has shown a notable rejection at the critical 200.000 key level. This key level could indicate a potential turning point or reinforce current market sentiment as we move into the next trading month.