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📊 Technical Analysis – July 8, 2026

📊 Technical Analysis – July 8, 2026

Market Overview

Today’s market is characterized by U.S. dollar strength, yen weakness, and rising energy prices.

In the FX market, USD/JPY has climbed to 162.48, posting strong buy signals across every timeframe. USD/CHF also maintains a strong bullish trend on the daily chart, confirming that dollar strength has regained momentum.

Meanwhile, EUR/USD, AUD/USD, Gold (XAU/USD), and Silver (XAG/USD) are broadly bearish, reflecting renewed pressure on dollar-denominated assets and precious metals.

Within commodities, Gold and Silver remain under heavy selling pressure, while WTI Crude Oil and Natural Gas are showing impressive strength. Natural Gas, in particular, maintains strong buy signals through the daily timeframe, making it the strongest commodity in today’s market.

Equity markets are more mixed. The Dow Jones Industrial Average continues to outperform, while the NASDAQ 100, DAX, CAC40, and Nikkei 225 remain under pressure.

Currency Market

USD/JPY

USD/JPY is trading at 162.48.

Strong buy signals are present across the 5-minute, 15-minute, hourly, and daily charts.

It is currently the strongest currency pair in the FX market.

Dollar buying and yen selling are reinforcing each other, creating a fully aligned bullish trend across every timeframe.

However, the 162 area continues to be viewed as a potential intervention zone by Japanese authorities.

While the trend remains bullish, waiting for buying opportunities on pullbacks is preferable to chasing prices higher.

EUR/USD

EUR/USD is trading at 1.1409.

The 15-minute, hourly, and daily charts all remain strongly bearish.

Although the 5-minute chart is neutral, the broader technical picture clearly favors sellers.

Dollar strength continues to weigh heavily on the pair, making selling rallies the preferred strategy.

GBP/USD

GBP/USD is trading at 1.3342.

The pair is bearish from the short-term through the hourly timeframe, while the daily chart remains neutral.

Following last week’s strong performance, the British pound is now undergoing a healthy correction.

Since the daily trend has not yet turned decisively bearish, any short positions should primarily focus on shorter timeframes.

AUD & NZD

AUD/USD is trading at 0.6919.

Strong sell signals are present across every timeframe.

Among the major dollar pairs, AUD/USD is currently one of the weakest.

NZD/USD is trading at 0.5698.

The short-term charts remain bearish, the hourly chart is bullish, while the daily chart remains strongly bearish.

Although signals are mixed, the longer-term outlook still favors selling rallies.

AUD/NZD is also bearish on both the hourly and daily charts, indicating that the Australian dollar is currently underperforming the New Zealand dollar.

Yen Crosses

Most yen crosses remain bullish on the daily timeframe, although some short-term corrections are emerging.

The strongest pairs include:

  • EUR/JPY
  • GBP/JPY
  • CHF/JPY
  • CAD/JPY

EUR/JPY is trading at 185.37, with strong buy signals on both the hourly and daily charts.

GBP/JPY is trading at 216.78, also maintaining strong bullish momentum on the hourly and daily timeframes.

CHF/JPY and CAD/JPY remain constructive over the medium term.

AUD/JPY is comparatively weaker, with bearish short-term signals while the daily trend remains bullish.

Commodities

Gold

Gold (XAU/USD) is trading at 4,053.71.

Strong sell signals dominate the 15-minute, hourly, and daily charts.

Gold futures, trading around 4,063.25, show the same technical picture.

The recent rebound has largely faded, returning the market to a bearish structure.

Selling rallies is currently preferred over buying pullbacks.

Silver

Silver (XAG/USD) is trading at 58.5375.

Strong sell signals are present across every timeframe.

Silver futures, currently around 58.890, also remain bearish through the hourly and daily charts.

Silver is even weaker than gold, confirming widespread selling pressure across the precious metals sector.

Crude Oil

WTI Crude Oil is trading at 74.31.

Strong buy signals dominate the 5-minute through hourly charts, while the daily chart remains neutral.

Oil has staged a sharp recovery from previous weakness and has become one of today’s stronger commodities.

Natural Gas

Natural Gas is trading at 3.317.

Strong buy signals are present on the 5-minute, hourly, and daily charts.

It is currently the strongest commodity in today’s market.

Supported by broad strength across the energy sector, buying pullbacks remains the preferred strategy.

Bitcoin

BTC/USD is trading at 62,081.

The hourly chart remains strongly bearish, while the daily chart is neutral.

Short-term momentum continues to favor sellers.

Although the daily trend is not fully bearish, selling rallies currently appears more attractive than initiating new long positions.

Equity Markets

U.S. Stocks

The Dow Jones Industrial Average is trading at 52,925.15.

Bullish signals extend from the short-term through the daily chart, making it the strongest major equity index.

The S&P 500 is trading at 7,503.85.

The daily chart remains strongly bullish, although short-term momentum has softened.

The longer-term uptrend remains intact.

The NASDAQ 100 is trading at 29,173.02.

Strong sell signals dominate the 15-minute, hourly, and daily charts.

Among U.S. indices, NASDAQ is clearly underperforming the Dow Jones.

European Stocks

The DAX is strongly bearish on the hourly chart while remaining neutral on the daily timeframe.

The FTSE 100 is bearish on the hourly chart but continues to hold a bullish daily trend.

The CAC40 has weakened across multiple timeframes, with particularly strong selling pressure on the hourly chart.

European equities have generally lost momentum compared with previous sessions.

Japanese Stocks

The Nikkei 225 is trading at 66,992.

Strong sell signals dominate the 5-minute, 15-minute, and hourly charts, while the daily chart also remains bearish.

Alongside the NASDAQ 100, the Nikkei is currently one of the weakest major stock indices.

Strength Ranking

S Rank

  • USD/JPY
  • Natural Gas
  • WTI Crude Oil
  • Dow Jones
  • EUR/JPY

A Rank

  • USD/CHF
  • CAD/JPY
  • GBP/JPY
  • CHF/JPY
  • EUR/CHF

B Rank

  • S&P 500 (Daily)
  • FTSE 100 (Daily)
  • NZD/JPY (Hourly)
  • NZD/USD (Hourly)
  • Crude Oil (Short-term)

Weakness Ranking

S Rank

  • Silver
  • Gold
  • AUD/USD
  • NASDAQ 100
  • Nikkei 225

A Rank

  • EUR/USD
  • AUD/NZD
  • BTC/USD (Hourly)
  • DAX (Hourly)
  • CAC40

B Rank

  • GBP/USD (Short-term)
  • NZD/USD (Daily)
  • AUD/JPY (Short-term)
  • FTSE 100 (Hourly)
  • S&P 500 (Short-term)

Key Market Themes

Today’s dominant themes are:

  • U.S. dollar strength
  • Yen weakness
  • Rising energy prices

USD/JPY has returned to a strong uptrend above 162, confirming renewed bullish momentum.

Within commodities, precious metals continue to weaken while crude oil and natural gas attract buying interest, highlighting a sharp divergence within the commodity sector.

Equity markets remain mixed. The Dow Jones continues to outperform, whereas the NASDAQ 100 and Nikkei 225 remain under pressure.

In FX, the major dollar pairs are generally weakening, while the yen crosses continue to hold firm on the daily timeframe.

Trading Strategy

Buy Bias

  • USD/JPY
  • Natural Gas
  • WTI Crude Oil
  • Dow Jones
  • EUR/JPY

Buy-the-Dip Candidates

  • USD/CHF
  • CAD/JPY
  • GBP/JPY
  • CHF/JPY
  • S&P 500 (Daily)

Sell-the-Rally Candidates

  • Gold
  • Silver
  • AUD/USD
  • EUR/USD
  • NASDAQ 100
  • Nikkei 225
  • BTC/USD (Short-term)

Markets Requiring Extra Caution

USD/JPY remains strongly bullish across all timeframes, but the 162 area continues to carry elevated intervention risk. Long positions should therefore be managed carefully despite the bullish trend.

Gold and Silver have both returned to clear bearish structures. Selling rallies now appears more favorable than attempting to buy dips.

Crude Oil has rebounded sharply, although the daily trend remains neutral. Confirmation from the daily timeframe would strengthen the longer-term bullish outlook.

NASDAQ 100 and the Nikkei 225 continue to lag behind the Dow Jones and S&P 500, highlighting increasing divergence across global equity markets.

Summary

The dominant market themes remain U.S. dollar strength, yen weakness, and higher energy prices.

The strongest markets today are:

  • USD/JPY
  • Natural Gas
  • WTI Crude Oil
  • Dow Jones

The weakest markets are:

  • Gold
  • Silver
  • AUD/USD
  • NASDAQ 100
  • Nikkei 225

Overall, the preferred strategy is to buy pullbacks in strong markets such as USD/JPY and the energy sector, while selling rallies in weaker assets including precious metals, the Australian dollar, and technology-focused equities.

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