Technical Analysis | June 5, 2026
Overview
The biggest change since the previous update is that:
USD/JPY has approached the 160 level, while shorter timeframes have turned bearish.
At the same time:
- EUR/USD is rising
- GBP/USD is rising
- Gold is rising
- Equity indices are rising
This suggests that the broader market theme remains:
“yen weakness and risk-on sentiment”
rather than broad-based dollar strength.
1. US Dollar
USD/JPY – 159.91
- 5-minute to hourly charts: Sell
- Daily chart: Strong Buy
USD/JPY is undergoing a short-term correction just below the 160 level.
However, the daily trend remains firmly bullish.
The most reasonable interpretation is:
a pullback within an ongoing uptrend.
USD/CHF
- Short-term: Bearish across all timeframes
- Daily: Bullish
The dollar is experiencing a modest correction.
This is not simply a case of yen weakness;
the dollar itself has also softened slightly.
2. Euro and Pound
EUR/USD
Bullish on the hourly chart.
GBP/USD
Bullish across all timeframes.
The British pound remains exceptionally strong.
Among the major currencies:
GBP is currently one of the strongest performers.
EUR/GBP
Bearish across all timeframes.
The pound continues to outperform the euro.
3. Oceania
AUD/USD
Bullish overall.
NZD/USD
Also bullish.
However, momentum in NZD has started to slow.
The Australian dollar currently appears more stable than the New Zealand dollar.
4. Yen Crosses
Yen crosses remain the dominant theme.
EUR/JPY
Bullish on both hourly and daily charts.
Trading around:
185.10
GBP/JPY
Strong Buy.
Trading around:
215.42
AUD/JPY
Bullish.
NZD/JPY
Bullish.
Overall, yen crosses remain strong.
The market continues to favor:
selling the yen.
5. Gold
Gold
Bullish across all short-term timeframes.
Gold has rebounded toward:
$4,490
The daily chart remains bearish,
but the short-term trend has recovered significantly.
Silver
Remains weak.
The widening divergence between gold and silver suggests that:
gold is being favored as a safe-haven asset.
6. Energy
Crude Oil
- Short-term: Bullish
- Daily: Bearish
Trading in the $92 area.
This appears to be a rebound within a broader downtrend.
Natural Gas
- Short-term: Bearish
- Daily: Bullish
Currently undergoing a corrective phase.
7. Bitcoin
BTC/USD
62,297
Bearish across all timeframes.
Bitcoin remains the weakest major asset class.
Despite strength in equities,
capital continues to avoid the crypto market.
8. Equity Markets
Equities remain broadly strong.
Dow Jones
Bullish on hourly and daily charts.
S&P 500
Bullish on hourly and daily charts.
Nasdaq
Short-term correction.
Long-term uptrend remains intact.
European Equities
- DAX
- FTSE 100
- CAC 40
Bullish across all major timeframes.
European equities are among the strongest markets currently.
Nikkei 225
- Short-term: Weak
- Daily: Bullish
Appears to be consolidating within a broader uptrend.
Strongest Markets
S Rank
- GBP/USD
- GBP/JPY
- EUR/JPY
- Gold
- European Equities (DAX, CAC, FTSE)
A Rank
- AUD/JPY
- AUD/USD
- Dow Jones
- S&P 500
Weakest Markets
- Bitcoin
- Silver
- USD/CHF
- USD/JPY (short-term only)
- EUR/GBP
Final Conclusion
The dominant market themes remain:
- Yen weakness
- Strong European currencies
- Rising equities
- Gold recovery
The most notable strength can currently be found in:
- GBP/USD
- GBP/JPY
- EUR/JPY
Meanwhile, Bitcoin remains under heavy selling pressure and continues to attract little investor interest.
Based purely on the technical picture,
the clearest opportunities continue to favor:
buying pullbacks in yen crosses and maintaining a bullish bias toward the British pound.
