22^nd February 2022 Technical Analysis

EURUSD

EURUSD fell on Monday,and the technical bias is bearish due to lower lows in the recent downtrend.

The pair is currently trading near 1.13024，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1:1.13200

Resistance level 2: 1.13350

Resistance level 3: 1.13500

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

Support level 1: 1.12950

Support level 2: 1.12800

Support level 3: 1.12600

Today (February 22) Germany will announce the IFO economic sentiment index for February. Higher data indicates that it is good for the euro, so it is bullish 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.

GBPJPY

GBPJPY fell on Monday, with technical bias bearish as it made lower lows in a recent horizontal swing.

The pair is currently trading near 155.659，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 155.850

Resistance level 2: 156.100

Resistance level 3: 156.300

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

Support level 1: 155.500

Support level 2: 155.300

Support level 3: 155.000

On Thursday (February 24), the UK will release the February CBI retail sales data, and higher data indicates a positive for the pound and therefore bullish for the GBPJPY pair and vice versa.

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