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.