EUROZONE ISSUANCE: EGB Supply Daily

A military source, speaking to Fars News Agency, stated: "As long as the United States continues its hostile actions, the situation in the Strait of Hormuz will not change, and no permits will be issued for vessels to pass through this strategic waterway."

• "Full control of the Strait of Hormuz is in the hands of the Iranian armed forces. Any decision regarding the reopening or continuation of restrictions on this waterway will be made solely based on security considerations and national interests. Until the threats and hostile actions of the United States continue, there will be no change in this situation."
• "Responsibility for any disruption to maritime security and its consequences lies with those parties that have jeopardized the region's security through military actions and provocative policies."

• RES 4: 164.26 Top of a bull channel drawn from Feb 12 low 
• RES 3: 163.62 2.000 proj of the Jan 27 - Feb 9 - Feb 12 price swing
• RES 2: 163.00 Round number resistance
• RES 1: 162.84 High Jul 1 and the bull trigger
• PRICE: 162.51 @ 07:21 BST Jul 21
• SUP 1: 161.28 Low Jul 10
• SUP 2: 160.91 50-day EMA
• SUP 3: 159.58 Low Jun 11
• SUP 4: 158.74 Low May 25  

USDJPY is in consolidation mode and is trading closer to its recent trend highs. The trend needle points north. Key short-term resistance and the bull trigger is 162.84, the Jun 1 high. Clearance of it would confirm a resumption of the uptrend and open 164.26, the top of a bull channel drawn from the Feb 12 low. Note that moving average studies are in a bull-mode position, highlighting a dominant uptrend. Key support is 160.91, the 50-day EMA.

• RES 4: 6654.00 Top of a bull channel drawn from the May 18 low   
• RES 3: 6568.25 2.236 proj of the May 4 - 6 - 18 price swing
• RES 2: 6484.00 2.00 proj of the May 4 - 6 - 18 price swing
• RES 1: 6368.00/6462.00 High Jul 8 / 6 and the bull trigger
• PRICE: 6260.00 @ 06:54 BST Jul 21
• SUP 1: 6201.00 Intraday low      
• SUP 2: 6189.38 50-day EMA 
• SUP 3: 5986.00 Low Jun 11
• SUP 4: 5844.00 Low May 20  

The trend set-up in EUROSTOXX 50 futures remains bullish and price continues to trade above support. The key short-term level to watch lies at 6189.38, the 50-day EMA. A clear break of this average would signal scope for a deeper retracement of the Mar 23 - Jul 6 bull leg. On the upside, key resistance and the bull trigger is at 6462.00, the Jul 6 high. Clearance of this hurdle would confirm a resumption of the primary uptrend.