3^rd  March 2022 Technical Analysis

EURJPY

EURJPY fell on Wednesday, with the technical bias bearish as it made lower lows during the recent downtrend.

The pair is currently trading near 128.346，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 128.650

Resistance level 2: 128.900

Resistance level 3:129.200

Below the price, multiple support levels can be seen which may prevent the price from falling.

Support level 1: 128.100

Support level 2: 127.900

Support level 3: 127.650

Today (March 3) the European Central Bank will release the minutes of its February monetary policy meeting. The hawkish remarks indicate that it is positive for the euro, so it is bullish for the EURJPY pair and vice versa.

Looking at the current price trend and economic development, it may be a good trading choice to sell the EURJPY currency pair near the current level.

EURUSD

EURUSD fell on Wednesday, with a bearish technical bias as they made lower lows during the recent downtrend.

The pair is currently trading near 1.11140，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1:1.11380

Resistance level 2: 1.11650

Resistance level 3:1.11900

Below the price, multiple support levels can be seen which may prevent the price from falling.

Support level 1: 1.11000

Support level 2: 1.10800

Support level 3: 1.10500

On Friday (March 4), the United States will release non-farm payrolls data for February. Higher employment numbers indicate that it is positive for the dollar, so it is negative for the European and American currency pairs, and vice versa.

Looking at the current price trend and economic development, it may be a good trading choice to sell the EURUSD currency pair near the current level.