Today’s Technical Analysis
1 September 2026
■ Summary
Today’s key themes are gains in USD/JPY, EUR/JPY, and GBP/JPY, declines in precious metals, and strength in the Nasdaq 100.
USD/JPY has risen to 160.06 and is Strong Buy from the 15-minute chart through the daily chart. EUR/JPY and GBP/JPY are similarly aligned to the upside, showing a renewed shift toward yen selling after yesterday’s yen buying.
However, AUD/JPY and NZD/JPY are Strong Sell on the hourly chart. This suggests that the yen is not weakening broadly against all currencies; rather, it is weak against the dollar, euro, and pound, while the Australian and New Zealand dollars themselves remain weak.
Gold and silver have turned to Strong Sell on both the hourly and daily charts. Although they are rebounding on the 5-minute chart, this is better viewed as a short-term technical bounce rather than a renewed advance at this stage.
Equity markets are polarized. The Nasdaq 100 is Strong Buy across all timeframes, while the Dow, DAX, and CAC 40 are dominated by sell signals. Rather than broad-based equity strength, the market is showing a notable concentration of funds in technology stocks.
■ FX Market
EUR/USD 1.1595
The 5-minute chart is Strong Buy, the 15-minute chart is Neutral, the hourly chart is Strong Sell, and the daily chart is Sell.
EUR/USD is rebounding in the very short term, but the hourly and daily directions remain lower. A rebound around 1.1600 alone is not enough to confirm a bottom. The basic bias remains to sell on rallies.
GBP/USD 1.3537
The 5-minute chart is Neutral, while the 15-minute and hourly charts are Strong Sell and the daily chart is Sell.
GBP/USD is relatively aligned to the downside from the short term through the daily chart. It is a short-term sell-on-rallies candidate, but with the 5-minute chart neutral, it is preferable to wait for a rebound to lose momentum and turn lower again.
USD/JPY 160.06
The 5-minute chart is Neutral, while the 15-minute, hourly, and daily charts are Strong Buy.
Yesterday’s short-term yen buying has run its course, and dollar buying and yen selling are dominant again. With the hourly and daily charts aligned, the technical bias favors buying on dips.
However, the 160 range is a level where intervention concerns can intensify regardless of the technical outlook. Even with a clear upward trend, caution is needed when chasing highs or increasing position size.
USD/CHF 0.8099
The 5-minute chart is Sell, the 15-minute chart is Neutral, and the hourly and daily charts are Strong Buy.
USD/CHF is correcting in the short term, but dollar strength and Swiss franc weakness remain dominant from the medium term through the daily chart. If the 5-minute sell signal fades, it could become a buy-on-dips candidate.
AUD/USD 0.7147
The 5-minute chart is Buy, the 15-minute chart is Sell, the hourly chart is Strong Sell, and the daily chart is Strong Buy.
The short-term, hourly, and daily directions are sharply divided. The daily uptrend remains in place, but the hourly decline should take priority for now. Long positions should wait for a confirmed reversal.
NZD/USD 0.5898
The 5-minute and daily charts are Neutral, the 15-minute chart is Sell, and the hourly chart is Strong Sell.
NZD weakness continues. The daily chart is no longer clearly bullish, making sell-on-rallies the basic approach.
■ JPY Crosses
EUR/JPY 185.58
The 5-minute chart is Neutral, while the 15-minute, hourly, and daily charts are Strong Buy.
EUR/USD is weak, but yen selling is stronger still. The upward trend is strong from the short term through the daily chart, making EUR/JPY a buy-on-dips candidate.
GBP/JPY 216.67
The 5-minute chart is Neutral, while the 15-minute, hourly, and daily charts are Strong Buy.
Yen weakness is outweighing weakness in GBP/USD. The technical bias favors buying on dips, although GBP/USD weakness could make the upside less stable than in USD/JPY or EUR/JPY.
CHF/JPY 197.62
The 5-minute chart is Buy, the 15-minute chart is Strong Buy, the hourly chart is Buy, and the daily chart is Neutral.
CHF/JPY has shifted from broad selling yesterday to a short-term rebound. However, the daily chart remains conflicted, with moving averages showing Strong Sell and indicators showing Buy. The medium- to long-term direction has not yet been established.
AUD/JPY 114.39
The 5-minute chart is Sell, the 15-minute chart is Neutral, the hourly chart is Strong Sell, and the daily chart is Strong Buy.
The hourly chart remains in a correction against the daily uptrend. Short-term sell-on-rallies remain favored for now, while buying should wait for improvement on the hourly chart.
NZD/JPY 94.39
The 5-minute chart is Strong Buy, the 15-minute chart is Neutral, the hourly chart is Strong Sell, and the daily chart is Buy.
NZD/JPY is rebounding in the very short term, but NZD weakness remains on the hourly chart. Rather than following the 5-minute buy signal alone, it is preferable to wait for the hourly chart to improve to Neutral or Buy.
CAD/JPY 115.32
The 5-minute chart is Strong Sell, the 15-minute chart is Neutral, and the hourly and daily charts are Strong Buy.
Higher oil prices and yen weakness support CAD/JPY over the medium term. It is a buy-on-dips candidate after the short-term correction, but it is preferable to wait for the 5-minute sell signal to fade.
■ Other Currency Pairs
EUR/GBP 0.8566
The 5-minute chart is Buy, the 15-minute and daily charts are Neutral, and the hourly chart is Strong Sell.
EUR/GBP has lost momentum after yesterday’s broad buy signals. The euro has the upper hand in the very short term, while sterling is stronger on the hourly chart. With directions misaligned, waiting is appropriate for now.
AUD/NZD 1.2119
The 5-minute, 15-minute, and hourly charts are Neutral, while the daily chart is Strong Buy.
AUD/NZD maintains a daily Australian dollar advantage, but momentum has faded from the short term through the hourly chart. It remains a buy-on-dips candidate, although short-term charts need to turn back to Buy.
EUR/CHF 0.9391
The 5-minute chart is Strong Buy, the 15-minute chart is Buy, the hourly chart is Neutral, and the daily chart is Strong Buy.
Euro buying and Swiss franc selling are dominant. Only the hourly chart is neutral, making EUR/CHF one of the relatively clearer buy setups in the current FX market.
■ Gold and Silver
Spot Gold $4,386.61
Gold Futures $4,435.29
The 5-minute chart is Strong Buy, the 15-minute chart is Neutral, and the hourly and daily charts are Strong Sell.
Gold is rebounding in the short term, but the hourly and daily downtrends remain clear. Rather than buying dips, the preferred approach is to sell on rallies.
Unless the 5-minute Strong Buy signal extends to the hourly chart, it is difficult to view the move as a medium- to long-term reversal.
Spot Silver $65.0305
Silver Futures $65.646
For spot silver, the 5-minute chart is Neutral, the 15-minute chart is Sell, and the hourly and daily charts are Strong Sell.
For silver futures, the 5-minute chart is Buy, the 15-minute chart is Neutral, and the hourly and daily charts are Strong Sell.
Like gold, silver shows a conflict between a very short-term rebound and a medium- to long-term decline. The basic bias remains to sell on rallies.
■ Crude Oil and Natural Gas
WTI Crude Oil $87.59
The 5-minute chart is Strong Sell, the 15-minute chart is Neutral, and the hourly and daily charts are Strong Buy.
WTI maintains its medium-term and daily uptrend while undergoing a short-term correction. Rather than chasing the highs, it is preferable to buy dips after selling pressure on the 5-minute and 15-minute charts has subsided.
Natural Gas 2.886
The 5-minute, 15-minute, and hourly charts are Strong Sell, while the daily chart is Neutral.
Natural gas has rapidly shifted from Strong Buy across all timeframes yesterday to selling pressure. The daily chart has also failed to maintain a buy signal, making sell-on-rallies the preferred approach from the short term through the hourly chart.
■ BTC/USD
BTC/USD $78,140
The 5-minute chart is Strong Buy, the 15-minute chart is Neutral, the hourly chart is Strong Sell, and the daily chart is Strong Buy.
BTC remains in a daily uptrend while the hourly correction continues. It is rebounding in the very short term, but with the hourly chart still on Sell, this cannot yet be viewed as a full-scale resumption of the uptrend.
For buy-on-dips positions, it is preferable to wait for the hourly chart to improve to Neutral or Buy.
■ Equity Markets
NY Dow 53,185.90
The 5-minute, 15-minute, and hourly charts are Strong Sell, and the daily chart is also Sell.
The Dow is weak from the short term through the daily chart, making sell-on-rallies the basic approach. Conditions have deteriorated sharply from yesterday’s daily Strong Buy signal, suggesting that this is not a market to buy U.S. equities broadly.
S&P 500 7,686.14
The 5-minute and 15-minute charts are Strong Buy, the hourly chart is Sell, and the daily chart is Neutral.
The short-term rebound and hourly decline are in conflict. Rather than chasing longs, it is preferable to wait for either the hourly chart to turn to Buy or the short-term rebound to lose momentum.
Nasdaq 100 29,456.97
All timeframes are Strong Buy.
The Nasdaq 100 is the strongest equity index in the current market. While the Dow is weak, buying is concentrated in the Nasdaq 100, showing a clear divergence within U.S. equities.
The basic bias favors buying on dips, although weakness in other U.S. indices means broader risk deterioration should be monitored carefully.
DAX 26,016.94
The 5-minute chart is Neutral, the 15-minute and hourly charts are Strong Sell, and the daily chart is Sell.
The previous day’s strength has disappeared, and the downward trend in European equities has become clear. The basic bias is to sell on rallies.
UK 100 10,765.48
The 5-minute chart is Strong Buy, the 15-minute chart is Buy, the hourly chart is Strong Sell, and the daily chart is Neutral.
The short-term rebound and hourly decline are in conflict. Short-term buying may be considered, but medium-term positions require confirmation of improvement on the hourly chart.
CAC 40 8,317.67
The 5-minute chart is Neutral, while the 15-minute, hourly, and daily charts are Strong Sell.
The CAC 40 is particularly weak among European equities. The basic approach is to sell on rallies, preferably after short-term rebounds lose momentum.
Nikkei Average 66,215.34
The 5-minute and 15-minute charts are Strong Sell, the hourly chart is Strong Buy, and the daily chart is Neutral.
The short-term correction conflicts with the hourly advance. Selling is favored in the short term, but with medium-term buy signals still in place, downside chasing should be approached cautiously.
■ Trading Strategy
Clearly Aligned Buy Direction
・USD/JPY
・EUR/JPY
・GBP/JPY
・EUR/CHF
・Nasdaq 100
Buy-on-Dips Candidates
・USD/CHF
・CAD/JPY
・WTI crude oil
・AUD/NZD on the daily chart
Sell-on-Rallies Candidates
・EUR/USD
・GBP/USD
・NZD/USD
・Gold
・Silver
・Natural gas
・NY Dow
・DAX
・CAC 40
Prioritize Direction Confirmation
・AUD/USD
・AUD/JPY
・NZD/JPY
・EUR/GBP
・BTC/USD
・S&P 500
・UK 100
・Nikkei Average
■ Points of Caution
USD/JPY has recovered the 160 range and remains Strong Buy technically. However, intervention concerns and the risk of sharp declines triggered by official remarks are higher above 160. Even with the right directional view, position sizing must allow for a temporary, substantial pullback.
Holding long positions in EUR/JPY, GBP/JPY, and USD/JPY simultaneously results in overlapping effective short-yen exposure. Rather than holding multiple positions, it is safer to focus on the pair with the clearest price action and stop-loss level.
Gold and silver are rebounding on the 5-minute chart, while the hourly and daily charts remain Strong Sell. It is important not to interpret very short-term buy signals alone as confirmation of a medium- to long-term bottom.
Overall, the main technical themes are: buy USD/JPY, major European yen crosses, and the Nasdaq 100; sell precious metals, natural gas, and European equities.
