Today’s Technical Analysis
3 September 2026
■ Summary
Today’s dominant themes are rapid yen strength and dollar weakness.
USD/JPY has fallen to 156.01 and is Strong Sell across all timeframes, from the 5-minute chart through the daily chart. EUR/JPY, GBP/JPY, CHF/JPY, AUD/JPY, NZD/JPY, and CAD/JPY are also Strong Sell across all timeframes, showing that yen buying has broadened across the market rather than being limited to a few currencies.
Among dollar pairs, EUR/USD, AUD/USD, and NZD/USD are Strong Buy from the short term through the hourly chart. AUD/USD is particularly notable, as it is Strong Buy through the daily chart, highlighting Australian dollar strength after the yen.
Meanwhile, EUR/GBP is Strong Buy across all timeframes, confirming that pound weakness relative to the euro continues.
In commodities, WTI crude oil has risen into the $92 range and is Strong Buy from the 15-minute chart through the daily chart. Gold has also reversed to Strong Buy from the short term through the hourly chart, although its daily chart remains Neutral.
Equity markets are rebounding in the short term, but weakness remains on the medium-term and daily charts. The exception is the UK 100, which is Buy across all timeframes. The Nikkei Average remains Strong Sell across all timeframes.
■ FX Market
EUR/USD 1.1608
The 5-minute, 15-minute, and hourly charts are Strong Buy, while the daily chart is Neutral.
EUR/USD has reversed sharply in the short term from yesterday’s Strong Sell readings on the hourly and daily charts. Buying on dips is favored for now, although the daily chart remains conflicted, with moving averages on Buy and indicators on Sell.
This is a market where it is important to see whether the short-term advance develops into a daily uptrend.
GBP/USD 1.3498
The 5-minute and 15-minute charts are Strong Buy, the hourly chart is Neutral, and the daily chart is Sell.
GBP/USD is rebounding in the short term, but pound weakness remains on the daily chart. With EUR/GBP on Buy across all timeframes, the structure of pound underperformance versus the euro remains unchanged.
The timeframes are in conflict: Buy in the short term and sell on rallies on the daily chart.
USD/JPY 156.01
All timeframes are Strong Sell.
USD/JPY has fallen sharply from 159.69 and fully shifted toward yen buying from the short term through the daily chart. It is one of the clearest downtrends in the current FX market.
The basic bias remains to sell on rallies. However, given the sharp decline in a short period, waiting for a rebound is more favorable for risk management than chasing lows.
USD/CHF 0.8087
The 5-minute, 15-minute, and hourly charts are Strong Sell, while the daily chart is Strong Buy.
Dollar selling and Swiss franc buying are clear from the short term through the hourly chart. However, the daily uptrend remains in place.
Short-term sell-on-rallies are favored for now, but as this is against the daily direction, the holding period for short positions requires caution.
AUD/USD 0.7192
All timeframes are Strong Buy.
Australian dollar buying and dollar selling are fully aligned from the short term through the daily chart. AUD/USD is the clearest uptrend among the current dollar pairs.
The basic bias favors buying on dips, although chasing highs after a sharp advance should be avoided.
NZD/USD 0.5870
The 5-minute, 15-minute, and hourly charts are Strong Buy, while the daily chart is Strong Sell.
Short-term NZD buying has strengthened, but the daily downtrend remains intact. Even when seeking the short-term advance, it is important to recognize that it runs counter to the daily trend.
■ JPY Crosses
EUR/JPY 181.10
All timeframes are Strong Sell.
EUR/JPY is falling sharply despite the rise in EUR/USD. This shows just how strong yen-buying pressure has become.
The basic bias remains to sell on rallies.
GBP/JPY 210.57
All timeframes are Strong Sell.
Yen strength and the pound’s relative weakness are overlapping, creating a clear downward direction among the yen crosses. The basic bias remains to sell on rallies, but chasing lows after a sharp decline requires caution.
CHF/JPY 192.90
All timeframes are Strong Sell.
USD/CHF is also being sold from the short term through the hourly chart, but CHF/JPY is falling even more sharply. The yen is stronger than the Swiss franc.
The basic bias remains to sell on rallies.
AUD/JPY 112.21
All timeframes are Strong Sell.
AUD/USD is Strong Buy across all timeframes, but AUD/JPY is declining because yen strength is even greater. This does not indicate Australian dollar weakness; it reflects even stronger yen buying.
The basic bias remains to sell on rallies.
NZD/JPY 91.58
All timeframes are Strong Sell.
NZD/USD is rebounding in the short term, but yen strength is overwhelming in NZD/JPY. The downside is aligned from the short term through the daily chart.
CAD/JPY 113.04
All timeframes are Strong Sell.
Despite WTI crude oil rising into the $92 range, CAD/JPY is broadly on Sell. The impact of yen buying is outweighing support for the Canadian dollar from higher oil prices.
The basic bias remains to sell on rallies.
■ Other Currency Pairs
EUR/GBP 0.8600
All timeframes are Strong Buy.
Euro buying and pound selling are clear. EUR/GBP is one of the pairs with the strongest alignment in the buy direction in the current FX market.
AUD/NZD 1.2254
The 5-minute chart is Buy, while the 15-minute, hourly, and daily charts are Strong Buy.
The Australian dollar continues to outperform the New Zealand dollar. This aligns with the broad buying in AUD/USD, and the basic bias favors buying on dips.
EUR/CHF 0.9388
The 5-minute, 15-minute, and hourly charts are Strong Sell, while the daily chart is Strong Buy.
The Swiss franc has the upper hand from the short term through the hourly chart, while the euro remains stronger on the daily chart. Short-term sell-on-rallies are favored for now, but the major conflict between timeframes makes this unsuitable for longer-term positions.
■ Gold and Silver
Spot Gold $4,434.10
Gold Futures $4,480.26
The 5-minute, 15-minute, and hourly charts are Strong Buy, while the daily chart is Neutral.
Yesterday’s short-term rebound has extended into the hourly chart, strengthening the upward direction. The previous daily Strong Sell signal has also been removed, making buying on dips favored from the short term through the medium term.
However, the daily chart remains conflicted, with moving averages on Buy and indicators on Strong Sell. A medium- to long-term resumption of the uptrend has not yet been fully confirmed.
Spot Silver $65.8625
Silver Futures $66.393
For spot silver, the 5-minute and hourly charts are Strong Buy, the 15-minute chart is Neutral, and the daily chart is Sell.
For silver futures, the 5-minute chart is Strong Buy, the 15-minute chart is Neutral, the hourly chart is Buy, and the daily chart is Sell.
Silver is aligned to the upside from the short term through the hourly chart, but the daily chart remains on Sell. It is a short-term buy-on-dips candidate, although the conflict with the medium- to long-term sell-on-rallies trend should be recognized.
■ Crude Oil and Natural Gas
WTI Crude Oil $92.26
The 5-minute chart is Neutral, while the 15-minute, hourly, and daily charts are Strong Buy.
WTI crude is the clearest uptrend in the current commodity market. Buy signals are aligned from the short term through the daily chart, making buying on dips the basic approach.
However, crude has surged into the $92 range, so chasing highs should be avoided. A potential long entry would be after the 5-minute chart completes its correction and turns back to Buy.
Natural Gas 2.988
The 5-minute chart is Strong Sell, the 15-minute chart is Sell, the hourly chart is Neutral, and the daily chart is Strong Buy.
Short-term correction is progressing against the daily uptrend. The short-term bias favors selling on rallies, while the daily chart presents a buy-on-dips opportunity.
It is preferable not to rush into daily-trend longs until the hourly chart improves to Buy.
■ BTC/USD
BTC/USD $77,882
The 5-minute and hourly charts are Strong Buy, while the 15-minute and daily charts are Buy.
BTC has reversed from yesterday’s hourly Strong Sell and is now aligned to the upside from the short term through the daily chart. Technically, buying on dips is favored.
However, given the sharp rebound, it is preferable to wait for a short-term pullback rather than chase the advance.
■ Equity Markets
NY Dow 53,061.95
The 5-minute and 15-minute charts are Buy, the hourly chart is Neutral, and the daily chart is Sell.
A short-term rebound is underway, but the daily downward bias remains. The timeframes are in conflict: Buy in the short term and sell on rallies on the daily chart.
S&P 500 7,666.60
The 5-minute, hourly, and daily charts are Neutral, while the 15-minute chart is Sell.
Direction remains unclear. Neither the short-term rebound nor the daily decline provides a decisive signal, making it preferable to wait for timeframes to align rather than trade aggressively.
Nasdaq 100 29,143.33
The 5-minute and 15-minute charts are Strong Buy, while the hourly and daily charts are Sell.
The Nasdaq 100 is rebounding in the short term after yesterday’s decline, but the medium-term and daily directions remain lower. Rather than following the short-term advance, it is important to see whether the rebound can extend to the hourly chart.
DAX 25,856.34
The 5-minute chart is Strong Buy, the 15-minute chart is Buy, and the hourly and daily charts are Sell.
The short-term rebound conflicts with the medium-term and daily decline. For now, this is a sell-on-rallies candidate once the short-term rebound loses momentum.
UK 100 10,790.15
The 5-minute and 15-minute charts are Strong Buy, while the hourly and daily charts are Buy.
The UK 100 is the only major equity index with its direction aligned to the upside from the short term through the daily chart. The basic bias favors buying on dips.
CAC 40 8,259.97
The 5-minute chart is Neutral, while the 15-minute, hourly, and daily charts are Strong Sell.
The CAC 40 is the weakest major European equity index. The basic bias remains to sell on rallies, showing a clear divergence from the UK 100.
Nikkei Average 64,208
All timeframes are Strong Sell.
For a second consecutive day, both moving averages and indicators are broadly Strong Sell. The Nikkei is the clearest downtrend among the current equity indices.
The basic bias remains to sell on rallies. Until a clear reversal signal appears, contrarian long positions should be avoided.
■ Strength Ranking
Clearly Aligned Buy Direction
・AUD/USD
・EUR/GBP
・AUD/NZD
・WTI crude oil
・BTC/USD
・UK 100
・Gold in the short term
Clearly Aligned Sell Direction
・USD/JPY
・EUR/JPY
・GBP/JPY
・CHF/JPY
・AUD/JPY
・NZD/JPY
・CAD/JPY
・Nikkei Average
・CAC 40
■ Trading Strategy
Buy-on-Dips Candidates
・AUD/USD
・EUR/USD in the short term
・EUR/GBP
・AUD/NZD
・Gold
・WTI crude oil
・BTC/USD
・UK 100
Sell-on-Rallies Candidates
・USD/JPY
・EUR/JPY
・GBP/JPY
・CHF/JPY
・AUD/JPY
・NZD/JPY
・CAD/JPY
・EUR/CHF in the short term
・CAC 40
・Nikkei Average
Wait for Short-Term Rebounds to Lose Momentum
・GBP/USD
・Silver
・NY Dow
・Nasdaq 100
・DAX
Prioritize Direction Confirmation
・S&P 500
・Natural gas
■ Points of Caution
All major yen crosses are Strong Sell. However, selling them simultaneously effectively creates overlapping long-yen exposure. Rather than holding multiple positions, it is safer to focus on the pair with the clearest rebound setup and stop-loss level among USD/JPY, EUR/JPY, GBP/JPY, and AUD/JPY.
The yen has moved sharply in a short period. Although the sell direction is aligned, short covering can be substantial following such a rapid decline. This favors selling on rebounds rather than chasing lows.
WTI crude oil has risen into the $92 range and remains Strong Buy technically. However, higher oil prices can intensify inflation concerns and destabilize equity markets, so oil price action should also be monitored when trading equity indices.
Overall, today’s key technical themes are broad yen strength, Australian dollar strength, higher oil prices, and the conflict between short-term equity rebounds and daily-chart declines.
