Technical Analysis | June 2, 2026
Overview
Today's data presents a very distinctive market structure.
The market leaders are:
USD/JPY, Yen Crosses, and Equities
At the same time:
-
Gold and silver are rebounding
-
Bitcoin and crude oil remain weak
In other words:
“Risk-on driven by yen weakness, accompanied by a rotation within commodity markets.”
1. US Dollar
USD/JPY – 159.76
Strong Buy across all timeframes
USD/JPY is trading in the upper 159 range.
The 160 level is once again within reach.
This remains the center of the market's attention.
USD/CHF
Short-term momentum remains bearish.
At the moment:
yen selling is stronger than dollar buying.
2. European Currencies
EUR/USD
Strong buy signals across shorter timeframes.
Only the daily chart remains bearish.
→ A recovery phase is underway.
GBP/USD
Strong Buy across all timeframes
One of today's strongest performers.
EUR/GBP
Daily chart remains bearish.
→ Pound strength continues to outperform the euro.
3. Oceania
AUD/USD
Bullish on both hourly and daily charts.
NZD/USD
Bullish across all timeframes.
One of the strongest currency pairs currently.
AUD/NZD
Hourly chart remains bullish.
The previous NZD outperformance is beginning to stabilize.
4. Yen Crosses
This is currently the strongest group in the market.
EUR/JPY
Strong Buy across all timeframes
GBP/JPY
Strong Buy across all timeframes
Trading above 214.
AUD/JPY
Strong Buy across all timeframes
NZD/JPY
Bullish across all timeframes.
CAD/JPY
Also remains bullish.
Overall:
broad-based yen selling continues across the market.
5. Gold and Silver
Gold
Strong Buy from short-term through hourly charts.
Only the daily chart remains bearish.
Silver
Bullish through the hourly timeframe.
Silver continues to outperform gold.
Precious Metals
The rebound remains intact.
6. Energy
Crude Oil
Bearish across all timeframes.
Trading in the 91-dollar area.
Natural Gas
Daily chart remains bullish.
Short-term charts are weaker.
Overall:
the energy sector remains under pressure.
7. Bitcoin
BTC/USD
Strong Sell across all timeframes
Trading around 69,377.
While most markets remain strong,
Bitcoin continues to lag significantly.
8. Equities
Equities remain exceptionally strong.
Dow Jones
Bullish across all timeframes.
S&P 500
Strong on both hourly and daily charts.
Nasdaq
Trading above 30,500.
Still one of the strongest markets globally.
Nikkei 225
66,734
Bullish across all timeframes.
Strongest Markets
S Rank
-
USD/JPY
-
GBP/JPY
-
EUR/JPY
-
Nikkei 225
-
Nasdaq
A Rank
-
NZD/USD
-
AUD/JPY
-
Gold
-
Silver
Weakest Markets
-
Bitcoin
-
Crude Oil
-
USD/CHF
-
FTSE 100
Final Conclusion
The dominant themes in today's market are:
-
Yen weakness
-
Rising equities
-
Strong yen crosses
-
Rebounding precious metals
The most notable feature is:
“Broad-based strength across all yen crosses.”
EUR/JPY, GBP/JPY, AUD/JPY, and NZD/JPY are all moving higher simultaneously.
This confirms that the market remains firmly tilted toward risk-on sentiment.
However:
-
Bitcoin remains weak
-
Crude oil remains weak
This differs from the broad-based risk-on environment seen frequently during late 2025 and early 2026.
Instead, the current environment is better described as:
a selective risk-on market driven primarily by equities and foreign exchange.
Based purely on the technical picture,
the clearest opportunities continue to favor:
buying pullbacks in USD/JPY, GBP/JPY, and EUR/JPY.
