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Overall, EUR/JPY is trending upwards. Recently, EUR/JPY bounced off the resistance zone of 124.200. The Japanese banks will be closed today in observance of Health-Sports Day. Expect lower trading volume and volatility during the Japanese market session. The eurozone Consumer Confidence data (Actual: -15, Forecast: -12, Previous: -15) released yesterday indicated that the level of pessimism of consumer confidence in July remains the same as June. The French flash PMI data will be released later at 1515 (SGT). -French Flash Services PMI (Forecast: 52.3, Previous: 50.7 revised from 50.3) -French Flash Manufacturing PMI (Forecast: 53.1, Previous: 52.3 revised from 52.1) The German flash PMI data will be released later at 1530 (SGT). -German Flash Services PMI (Forecast: 50.4, Previous: 47.3 revised from 45.8) -German Flash Manufacturing PMI (Forecast: 48.0, Previous: 45.2 revised from 44.6) The eurozone flash PMI data will be released later 1600 (SGT). -Eurozone Flash Services PMI (Forecast: 51.0, Previous: 48.3 revised from 47.3) -Eurozone Flash Manufacturing PMI (Forecast: 50.0, Previous: 47.4 revised from 46.9) EUR/JPY’s next support zone is at 121.700 and the next resistance zone is at 124.200. With the positive forecasts of the French, German and eurozone PMI, look for buying opportunities of EUR/JPY if the released data are overall better than forecasted and only if the resistance zone of 124.200 is broken.