Technical Analysis: Sterling and Yen Crosses Improve as Gold and Equities Rebound — October 16, 2026

GBP/USD and GBP/JPY have improved to a bullish daily bias. CHF/JPY and CAD/JPY also show Strong Buy on the 15-minute and hourly charts, and Buy on the daily chart. AUD/JPY has rebounded, but its daily chart remains Strong Sell, showing uneven improvement across yen crosses. USD/JPY is Strong Sell on the hourly chart, while the short-term and daily readings are Neutral. AUD/NZD remains weak, with a Strong Sell daily bias.

Main Changes

GBP/USD and GBP/JPY improved from Neutral to Buy on the daily chart. CHF/JPY and CAD/JPY also shifted to Buy. EUR/JPY, AUD/JPY, and NZD/JPY turned Strong Buy on the 15-minute and hourly charts, but daily signals remain mixed. AUD/NZD shifted from Neutral to Strong Sell on the daily chart. Gold futures improved from Strong Sell to Neutral. The DAX turned Strong Buy across all timeframes, while the Dow and S&P 500 improved on hourly and daily charts.

Foreign Exchange

EUR/USD — 1.1248

5-minute: Buy; 15-minute and hourly: Strong Buy; daily: Strong Sell. The rebound is clear through the hourly chart, but daily moving averages and indicators remain bearish. Watch whether hourly buying holds and daily selling eases.

GBP/USD — 1.3331

5-minute, 15-minute, and hourly: Strong Buy; daily: Buy. All timeframes have improved in a bullish direction. Daily moving averages remain Neutral while indicators lead with Strong Buy. For pullback buying, look for improvement in daily moving averages as well.

USD/JPY — 157.97

5-minute and 15-minute: Neutral; hourly: Strong Sell; daily: Neutral. The 5-minute moving averages are Buy while indicators are Strong Sell. On the 15-minute and daily charts, moving averages are Sell while indicators are Buy. The hourly sell signal is clear, and a bullish recovery is not confirmed. For rally selling, wait for shorter timeframes to align lower; for buying, look for the hourly chart to improve.

USD/CHF — 0.8241

5-minute: Neutral; 15-minute and hourly: Strong Sell; daily: Neutral. The previous short-term rebound has faded. Both moving averages and indicators are Strong Sell on the hourly chart. This may be a short-term-to-hourly rally-selling setup, but wait for 5-minute alignment.

AUD/USD — 0.6958

5-minute: Sell; 15-minute and hourly: Strong Buy; daily: Strong Sell. The 15-minute and hourly charts improved, but the 5-minute chart is showing selling. This looks like a correction within a rebound against the daily downtrend. Wait for the 5-minute chart to return to Buy, or for hourly buying to break down and realign with the daily sell bias.

NZD/USD — 0.5667

5-minute: Sell; 15-minute and hourly: Strong Buy; daily: Neutral. Daily indicators are Buy while moving averages are Neutral. Watch whether the 5-minute correction ends and hourly buying holds.

Yen Crosses and Relative Currency Strength

EUR/JPY — 177.70

5-minute, 15-minute, and hourly: Strong Buy; daily: Sell. The pair rebounded from Strong Sell across all timeframes in the previous update, but daily moving averages and indicators remain Sell. Distinguish short-term buying from a daily trend reversal.

GBP/JPY — 210.59

5-minute: Buy; 15-minute and hourly: Strong Buy; daily: Buy. All timeframes are aligned higher. Daily moving averages remain Neutral, but indicators are Strong Buy. Watch whether hourly buying holds after a correction.

CHF/JPY — 191.69

5-minute: Neutral; 15-minute and hourly: Strong Buy; daily: Buy. Higher timeframes improved. On the 5-minute chart, moving averages are Buy while indicators are Sell. Watch for 5-minute indicators to return to Buy and align with higher timeframes.

AUD/JPY — 109.92

5-minute: Sell; 15-minute and hourly: Strong Buy; daily: Strong Sell. Despite the rebound from Strong Sell across all timeframes, daily moving averages and indicators remain Strong Sell. Treat this as a rebound against the daily downtrend. For longs, wait for 5-minute improvement; for rally selling, look for hourly buying to break down.

NZD/JPY — 89.52

5-minute: Sell; 15-minute and hourly: Strong Buy; daily: Neutral. The daily reading improved from Strong Sell to Neutral. Daily indicators are Buy while moving averages are Neutral. Watch for the 5-minute chart to recover to Buy and the daily bias to align higher.

CAD/JPY — 111.55

5-minute: Neutral; 15-minute and hourly: Strong Buy; daily: Buy. Higher timeframes are bullish, though 5-minute moving averages are Buy while indicators are Sell. Wait for the 5-minute chart to recover to Buy for a pullback-buying setup.

EUR/GBP — 0.8438

5-minute: Sell; 15-minute, hourly, and daily: Strong Sell. Moving averages and indicators are bearish across all timeframes. Despite the euro’s rebound against the dollar, it remains weak against sterling. The basic setup favors selling rallies.

AUD/NZD — 1.2279

5-minute: Neutral; 15-minute, hourly, and daily: Strong Sell. Moving averages and indicators align lower from 15-minute through daily charts, showing clear Australian-dollar weakness versus the New Zealand dollar. Watch whether a 5-minute rebound fades.

EUR/CHF — 0.9270

5-minute: Sell; 15-minute, hourly, and daily: Strong Sell. Bearish signals across all timeframes, together with USD/CHF weakness, point to continued relative strength in the Swiss franc. The setup favors selling rallies.

Commodities

Gold Futures — 4,209.37

5-minute, 15-minute, and hourly: Strong Buy; daily: Neutral. The daily chart shifted from Strong Sell to Neutral, although moving averages remain Sell and indicators Neutral. The rebound is strengthening; watch whether hourly buying holds and the daily chart improves.

Silver Futures — 58.070

5-minute, 15-minute, and hourly: Strong Buy; daily: Strong Sell. Short-term buying strengthened, but daily moving averages and indicators remain Strong Sell. A rebound may continue, but the daily trend has not turned bullish.

WTI Crude Oil — 97.17

5-minute and 15-minute: Sell; hourly: Neutral; daily: Strong Buy. Short-term readings weakened from Strong Buy across all timeframes. Treat this as a correction within a bullish daily trend and wait for the 15-minute and hourly charts to recover to Buy.

Natural Gas — 3.192

5-minute: Strong Buy; 15-minute and hourly: Strong Sell; daily: Strong Buy. The 5-minute chart is rebounding, but selling has intensified on the 15-minute and hourly charts. Wait for the rebound to extend to 15-minute; pullback buying also requires hourly improvement.

Equity Indices

Dow Jones — 52,177.69

5-minute: Buy; 15-minute, hourly, and daily: Strong Buy. The hourly chart improved from Neutral to Strong Buy. Moving averages and indicators are bullish across all timeframes. Watch whether hourly buying holds during a correction.

S&P 500 — 7,744.06

5-minute and 15-minute: Strong Buy; hourly and daily: Buy. The hourly Strong Sell and daily Neutral readings improved. Hourly moving averages remain Neutral while indicators lead with Strong Buy. Look for moving averages to turn Buy as well.

Nasdaq 100 — 29,935.60

5-minute and 15-minute: Strong Buy; hourly and daily: Strong Sell. Short-term conditions improved, but hourly and daily moving averages and indicators remain aligned lower. Wait for the rebound to fade before considering rally selling; short-term buying alone does not confirm a renewed uptrend.

DAX — 25,621.16

Strong Buy across all timeframes. The index reversed from Strong Sell across all timeframes. Moving averages and indicators are bullish. Watch whether 15-minute and hourly buying holds after a correction.

UK 100 — 10,834.62

5-minute: Neutral; 15-minute: Buy; hourly and daily: Strong Buy. 5-minute moving averages are Buy while indicators are Sell. For pullback buying, wait for the 5-minute chart to return to Buy.

CAC 40 — 7,944.78

5-minute, 15-minute, and hourly: Strong Buy; daily: Neutral. Short-term selling cleared and the daily reading improved from Sell to Neutral. Daily moving averages remain Sell while indicators are Strong Buy. Wait for daily alignment.

Nikkei 225 — 65,496.00

5-minute and 15-minute: Strong Sell; hourly: Sell; daily: Strong Sell. Hourly indicators are Neutral, but moving averages remain Strong Sell. The basic setup favors selling rallies; for a rebound, wait for the 15-minute and hourly charts to turn Buy.

Strength and Weakness

Bullish across all timeframes: GBP/USD, GBP/JPY, Dow Jones, S&P 500, and DAX.

Bullish on higher timeframes, awaiting short-term improvement: CHF/JPY, CAD/JPY, and UK 100.

Daily readings improved to Neutral: NZD/USD, NZD/JPY, gold futures, and CAC 40.

Rebounds against a bearish daily trend: EUR/USD, AUD/USD, EUR/JPY, AUD/JPY, and silver futures.

Strong Sell from 15-minute through daily: EUR/GBP, EUR/CHF, and AUD/NZD. USD/CHF is Strong Sell from 15-minute through hourly. Nikkei selling spans all timeframes; Nasdaq 100 remains Strong Sell on hourly and daily charts.

Trading Strategy

Potential pullback buys: For GBP/USD, GBP/JPY, the Dow, S&P 500, and DAX, prioritize bullish alignment across all timeframes. CHF/JPY, CAD/JPY, and UK 100 have bullish higher-timeframe readings; wait for a short-term correction to end and 5-minute charts to align higher. NZD/USD, NZD/JPY, gold, and CAC 40 have only improved to Neutral on the daily chart.

Potential rally sells: Focus on 15-minute-to-daily Strong Sell signals in EUR/GBP, EUR/CHF, and AUD/NZD. Use the short-term-to-hourly sell bias in USD/CHF and the broader daily weakness in the Nikkei. For Nasdaq 100, wait for short-term buying to stall. USD/JPY remains Strong Sell hourly; wait for short-term selling to align.

Awaiting alignment: EUR/USD, AUD/USD, EUR/JPY, AUD/JPY, and silver are rebounding against bearish daily readings. Crude oil and natural gas have bullish daily readings but weaker hourly conditions; wait for recovery across short-term and hourly charts before considering pullback buys.

Key Takeaways

CHF/JPY and CAD/JPY improved to Buy on the daily chart, but AUD/JPY remains Strong Sell. Yen crosses therefore do not form a uniformly bullish group. The New Zealand dollar has improved against both the U.S. dollar and yen while AUD/NZD is bearish, showing relative NZD strength. USD/JPY is Strong Sell hourly despite improvement in yen crosses. The Dow, S&P 500, and DAX improved, while higher-timeframe selling remains in Nasdaq 100 and Nikkei. Account for overlapping exposure when several positions share a currency or equity-market driver.

Four-timeframe readings for XAU/USD, XAG/USD, and BTC/USD were not fully available. This report covers the 26 instruments with confirmed data.