EUR/JPY Outlook (23 November 2020)

Overall, EUR/JPY is ranging across.

Japanese banks will be closed today in observance of Labor Thanksgiving Day. Expect lower trading volume and volatility during the Japanese market session.

The French flash PMI data will be released later at 1615 (SGT).

• French Flash Service PMI (Forecast: 39.2, Previous: 46.5)
  
• French Flash Manufacturing PMI (Forecast: 50.2, Previous: 51.3 revised from 51.0)
  

The German Flash PMI data will be released later at 1630 (SGT).

• German Flash Services PMI (Forecast: 46.1, Previous: 49.5 revised from 48.9)
  
• German Flash Manufacturing PMI (Forecast: 56.0, Previous: 58.2 revised from 58.0)
  

The eurozone flash PMI data will be released later at 1700 (SGT).

• Flash Manufacturing PMI (Forecast: 53.2, Previous: 54.8 revised from 54.4)
  
• Flash Services PMI (Forecast: 42.2, Previous: 46.9 revised from 46.2)
  

EUR/JPY’s next support zone is at 122.600 and the next resistance zone is at 124.750.
Look for short-term buying opportunities of EUR/JPY.