FX.co ★ EUR/USD analysis for March 22 2021 - Key resistance level at the price of 1.1935

BOJ kicks off its new ETF policy with a £50.1 billion purchase today

That's the third time this month and the fourth time (all same amounts) this year.

The latest purchase today comes amid a 2% drop in the Nikkei and a 1% drop in the Topix. The latter is the focus of the latest shift in BOJ policy but if anything, it just rather shifts the support away from less growth-heavy stocks to more value-heavy stocks.

Further Development

Analyzing the current trading chart of EUR/USD, I found that buyers are in control today but that there is strong resistance at the price of 1,1935.

Based on the 4H time-frame , my advie is to watch for potential test of strong resistance and try to play for the downside towards the 1,1880.

Key Levels:

Resistance: 1,1935

Support level: 1,1880