Forex: EUR/JPY collapses to 1-month lows

The EUR/JPY is falling hard on Monday following the Italian uncertainty in the elections results. A hung parliament is a fear not only in Italy but across the Eurozone and it has launched the pair toward levels not seen since in a month.

After falling 620 pips from 125.20 in the European session, the EUR/JPY is trading close to 119.00, lowest since January 24th and 4.45% down from opening price. MACD, CCI and Momentum indicators are bearish, Stochastic is bullish in the 15-minutes and 1-hour charts.

Feb 25, 2013

Forex: USD/JPY slumps to 10-day low

The USD/JPY has continued to lose ground during the American afternoon, dragged lower by the Sharp fall seen in EUR/JPY weighed by the possibility of a hung parliament in Italian elections.

Fears of a hung parliament grow in Italy

Italy's parliamentary election count reveals that no party has majority yet in the Senate or in the Lower House, fueling anxiety among investors on fears of a deadlock in Parliament.