Today’s Technical Analysis 31 August 2026
Summary
Today’s key themes are short-term yen buying, sterling weakness, and strength in crude oil and natural gas.
In the data presented on 28 August, USD/JPY and the major yen crosses showed aligned Buy signals. This time, however, many instruments have shifted to Sell from the short-term through the hourly charts. Daily charts for most yen crosses remain Buy, creating a conflict between the short-term decline and the daily upward trend.
CHF/JPY is particularly weak, with Sell signals aligned through the daily chart. In contrast, EUR/GBP is Buy across all timeframes, confirming sterling weakness against the euro.
In commodities, WTI crude oil and natural gas are Strong Buy across all timeframes. Gold has shifted mostly to Neutral, while silver futures show a stronger Buy signal than spot silver.
Equity markets have more Neutral readings, without the broad Buy alignment seen previously. It is important to distinguish between the Dow and DAX, which retain daily strength, and the CAC 40 and Nikkei Average, where short-term rebounds are leading.
The following analysis is based on the Summary ratings in the data provided.
FX Market
EUR/USD 1.1599
The 5-minute chart is Sell, while the 15-minute, hourly, and daily charts are Neutral.
The short-term bias is bearish, but the hourly chart shows a conflict between Sell moving averages and Strong Buy technical indicators. The daily chart is no longer clearly bullish either, leaving insufficient evidence to favor either buying dips or selling rebounds.
This is a market to watch for direction around 1.1600 and for alignment in the hourly rating.
GBP/USD 1.3540
The 5-minute, 15-minute, and hourly charts are Strong Sell, while the daily chart is Neutral.
Moving averages and indicators are aligned at Strong Sell from the short-term through the hourly chart. Among dollar pairs, GBP/USD has high priority as a short-term sell-on-rebounds candidate.
However, the daily chart has not yet aligned to the downside, so it is preferable to wait for a rebound and subsequent loss of momentum rather than chase the decline.
USD/JPY 159.67
The 5-minute, 15-minute, and hourly charts are Strong Sell, while the daily chart is Neutral.
USD/JPY has shifted clearly to a short-term Sell from the previous broadly bullish signal. The daily chart is also mixed, with Sell moving averages and Strong Buy indicators. This is not the environment to continue the previous buy-on-dips strategy without reassessment.
Short-term selling on rebounds is favored for now. Any renewed long position should wait for improvement not only in the short-term charts but also in the hourly chart.
USD/CHF 0.8085
The 5-minute, 15-minute, and hourly charts are Neutral, while the daily chart is Strong Buy.
The daily uptrend remains, but short-term direction is unclear. The hourly chart is conflicted, with Buy moving averages and Strong Sell indicators.
USD/CHF remains a daily-trend buy-on-dips candidate, but it is preferable to wait until short-term Buy signals align.
AUD/USD 0.7160
The 5-minute and 15-minute charts are Neutral, the hourly chart is Strong Sell, and the daily chart is Strong Buy.
The hourly direction is bearish while the daily upward trend remains. Short-term neutral readings alone are not enough to confirm that the correction has ended. Long positions should wait for improvement in the hourly chart.
NZD/USD 0.5914
The 5-minute chart is Neutral, the 15-minute and hourly charts are Strong Sell, and the daily chart is Buy.
A short-term correction continues against the daily bullish bias. Short-term selling on rebounds is favored, but because this is against the daily trend, position duration should be managed carefully.
JPY Crosses
EUR/JPY 185.21
The 5-minute, 15-minute, and hourly charts are Strong Sell, while the daily chart is Strong Buy.
Short-term yen buying is clearly visible. The daily uptrend remains, but short-term selling on rebounds is favored for now. Long entries should wait for an hourly reversal.
GBP/JPY 216.20
The 5-minute, 15-minute, and hourly charts are Strong Sell, while the daily chart is Buy.
Sterling weakness and the short-term USD/JPY decline are combining to weaken GBP/JPY. It is a short-term sell-on-rebounds candidate, but caution is required because the daily chart remains Buy.
CHF/JPY 197.50
The 5-minute chart is Sell, while the 15-minute, hourly, and daily charts are Strong Sell.
CHF/JPY shows the clearest aligned bearish signal among the yen crosses. While other crosses still retain Buy signals on the daily chart, CHF/JPY is weak through the daily timeframe.
Selling on rebounds is favored. However, aligned Sell signals do not guarantee that the decline will continue, so monitor price action on rebounds.
AUD/JPY 114.33
The 5-minute chart is Strong Sell, the 15-minute chart is Sell, the hourly chart is Strong Sell, and the daily chart is Strong Buy.
The short-term direction is lower, while the daily bullish trend remains. The 5-minute chart shows a conflict between moving averages and indicators, so caution is needed for very short-term swings.
Short-term selling on rebounds is favored, while longs should wait for an improvement in the hourly chart.
NZD/JPY 94.44
The 5-minute chart is Sell, the 15-minute and hourly charts are Strong Sell, and the daily chart is Buy.
Short-term and hourly charts are aligned with yen buying. Rather than trading against the decline based only on the daily Buy signal, first wait for the short-term decline to stabilize.
CAD/JPY 114.98
The 5-minute chart is Strong Buy, the 15-minute chart is Buy, the hourly chart is Strong Sell, and the daily chart is Strong Buy.
Unlike other yen crosses, CAD/JPY shows short-term buying. However, the hourly chart remains Strong Sell, so a renewed uptrend has not yet been confirmed.
It is worth monitoring alongside the Strong Buy signal in crude oil, but the key for longs is whether the hourly chart improves.
Other Currency Pairs
EUR/GBP 0.8567
The 5-minute and daily charts are Buy, while the 15-minute and hourly charts are Strong Buy.
Euro strength and sterling weakness are aligned across all timeframes. It is one of the clearest Buy setups in the current FX market.
Buying on dips is favored.
AUD/NZD 1.2107
The 5-minute, 15-minute, and daily charts are Strong Buy, while the hourly chart is Neutral.
AUD outperformance remains in place, but the hourly chart is conflicted between Strong Buy moving averages and Strong Sell indicators.
AUD/NZD remains a Buy candidate, but confirmation that the hourly chart returns to Buy would provide stronger alignment.
EUR/CHF 0.9378
The 5-minute chart is Strong Sell, the 15-minute chart is Neutral, and the hourly and daily charts are Strong Buy.
The hourly and daily charts favor buying, but the very short-term chart is selling. EUR/CHF remains a buy-on-dips candidate, but it is preferable to wait for improvement in the 5-minute and 15-minute charts.
Gold and Silver
Spot Gold $4,453.77
Gold Futures $4,504.10
For spot gold, the 5-minute chart is Sell, while the 15-minute, hourly, and daily charts are Neutral.
For gold futures, the 5-minute chart is Sell, the 15-minute chart is Buy, and the hourly and daily charts are Neutral.
The previous broad Strong Buy signal has disappeared. There are short-term rebound signals, but no clear direction on the hourly or daily charts.
Rather than assuming a strong uptrend and buying dips, this is a market where confirming direction should take priority.
Spot Silver $67.2235
Silver Futures $67.923
For spot silver, the 5-minute and daily charts are Neutral, while the 15-minute and hourly charts are Buy.
For silver futures, the 5-minute chart is Neutral, while the 15-minute, hourly, and daily charts are Strong Buy.
Silver retains more bullish signals than gold, but there is a gap in strength between spot and futures. Futures are a buy-on-dips candidate, while spot requires confirmation of short-term buying and improvement in the daily chart.
It is important not to treat both spot and futures as Strong Buy across all timeframes.
Oil and Natural Gas
WTI Crude Oil $86.56
Moving averages and indicators are Strong Buy across all timeframes.
WTI is the clearest Buy setup in the current commodity market. Direction is aligned from the short-term through the daily chart, favoring buying on dips.
However, strong Buy signals do not necessarily mean the market is undervalued. Before chasing the rise, assess potential downside risk in the event of a pullback.
Natural Gas 2.919
All timeframes are Strong Buy.
Natural gas has shifted from the previous short-term Sell into alignment with the daily Buy trend. Along with crude oil, it is a notable buy-on-dips candidate.
Price action can change suddenly, so avoid increasing position size solely because the signals are strong.
BTC/USD
BTC/USD $78,402
The 5-minute chart is Strong Sell, the 15-minute chart is Neutral, and the hourly and daily charts are Strong Buy.
The hourly and daily charts favor buying, but a very short-term correction is underway. BTC remains a buy-on-dips candidate, but wait for short-term charts to return to Buy.
Although the price is lower than previously, the hourly rating has improved. Signals evaluate the most recent price structure and do not confirm either a price recovery or a market bottom.
Equity Markets
Dow Jones 53,559.99
The 5-minute, 15-minute, and hourly charts are Neutral, while the daily chart is Strong Buy.
The daily bullish trend remains, but short-term direction is weak. It is a buy-on-dips candidate after the hourly chart turns to Buy.
S&P 500 7,711.76
All timeframes are Neutral.
The daily chart is particularly conflicted, with Strong Buy moving averages and Strong Sell indicators. Avoid assuming a clear bull or bear market; wait for signals to align.
Nasdaq 100 29,433.43
The 5-minute, 15-minute, and daily charts are Neutral, while the hourly chart is Buy.
The hourly Buy signal remains, but it has not spread to other timeframes. It is a potential short-term long, but confidence is lower than when there was a broad Buy signal.
DAX 26,391.95
The 5-minute and daily charts are Strong Buy, while the 15-minute and hourly charts are Neutral.
Daily strength remains, but the hourly chart is conflicted between moving averages and indicators. Instead of chasing a short-term rebound, wait for the hourly chart to turn to Buy.
FTSE 100 10,824.26
The 5-minute and 15-minute charts are Strong Buy, while the hourly and daily charts are Neutral.
Short-term buying is leading. As the hourly and daily charts are not yet aligned to the upside, separate short-term trades from medium-term positions.
CAC 40 8,414.86
The 5-minute and 15-minute charts are Strong Buy, the hourly chart is Buy, and the daily chart is Sell.
A rebound is in place from the short-term through the hourly chart, but daily weakness remains.
Rather than selling immediately because of the daily Sell signal, wait for the short-term rebound to lose momentum before considering a sell-on-rebounds position.
Nikkei Average 66,311.93
The 5-minute and 15-minute charts are Strong Buy, the hourly chart is Buy, and the daily chart is Neutral.
Short-term and hourly buying is aligned. However, the daily chart is conflicted between Strong Buy moving averages and Strong Sell indicators.
The Nikkei is a short-term Buy candidate, but the daily uptrend has not yet been confirmed.
Trading Strategy
Clear Buy Alignment
・WTI crude oil
・Natural gas
・EUR/GBP
・Silver futures, although the 5-minute chart is Neutral
Clear Sell Alignment
・CHF/JPY
Short-Term Sell-on-Rebounds Candidates
・GBP/USD
・USD/JPY
・EUR/JPY
・GBP/JPY
・AUD/JPY
・NZD/JPY
・NZD/USD
Buy-on-Dips Candidates After Reversal Confirmation
・BTC/USD
・EUR/CHF
・AUD/NZD
・USD/CHF
・Dow Jones
・DAX
Prioritize Directional Confirmation
・EUR/USD
・Gold
・S&P 500
・CAD/JPY, where short-term buying conflicts with hourly selling
Points of Caution
This time, a short-term shift toward yen buying is spreading across the market. However, with the exception of CHF/JPY, many yen crosses retain Buy signals on the daily chart. It is important not to equate the short-term decline with a long-term transition to yen strength.
Holding short positions in several yen crosses at once duplicates the same long-yen risk. Rather than increasing the number of pairs sold, focus on the instrument with the clearest multi-timeframe alignment and a clearly defined stop-loss level.
The 160 level is an important psychological threshold for USD/JPY, but it does not determine whether intervention will occur. Continue to remain alert to sudden moves and remarks from authorities.
Overall, the key technical themes are: energy markets with aligned Buy signals, short-term yen buying in FX, and equity markets that require further directional confirmation.
