EUR/JPY hits one-month low as France considers national lockdown


  1. EUR/JPY drops to the lowest level since Sept. 28.
  2. France and other Eurozone nations face lockdown on rising coronavirus cases. 
  3. ECB is under pressure to deliver additional stimulus. 

EUR/JPY fell to a one-month low of 122.99 a couple of hours ago, having declined by over 0.5% on Tuesday.

Lockdown fears weigh

Many Eurozone countries are imposing economically-painful national curfews and lockdown restrictions to combat the second wave of the coronavirus. 

Notably, France is reportedly considering a month-long national lockdown, which could take effect from midnight on Thursday. 

Indeed, the latest measures announced by some of the Eurozone nations are less severe than the ones implemented in the second quarter. Nevertheless, they are likely to torpedo the already fragile economic recovery in the common currency block, ramping up pressure on the European Central Bank to provide additional economic stimulus. 

Hence, the market is offering euros and snapping up anti-risk currencies like the Japanese yen and the US dollar. At press time, the pair is trading near 123.07. 

Technical levels

EUR/JPY

Overview
Today last price 123.07
Today Daily Change -0.09
Today Daily Change % -0.07
Today daily open 123.16
 
Trends
Daily SMA20 124.03
Daily SMA50 124.51
Daily SMA100 123.55
Daily SMA200 121.15
 
Levels
Previous Daily High 124
Previous Daily Low 123.15
Previous Weekly High 125
Previous Weekly Low 123.33
Previous Monthly High 127.08
Previous Monthly Low 122.38
Daily Fibonacci 38.2% 123.47
Daily Fibonacci 61.8% 123.67
Daily Pivot Point S1 122.88
Daily Pivot Point S2 122.59
Daily Pivot Point S3 122.03
Daily Pivot Point R1 123.72
Daily Pivot Point R2 124.28
Daily Pivot Point R3 124.57

 

 

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