Technical Analysis | June 5, 2026

Technical Analysis | June 5, 2026

Overview

The biggest change since the previous update is that:

USD/JPY has approached the 160 level, while shorter timeframes have turned bearish.

At the same time:

• EUR/USD is rising

• GBP/USD is rising

• Gold is rising

• Equity indices are rising

This suggests that the broader market theme remains:

“yen weakness and risk-on sentiment”

rather than broad-based dollar strength.

1. US Dollar

USD/JPY – 159.91

• 5-minute to hourly charts: Sell

• Daily chart: Strong Buy

USD/JPY is undergoing a short-term correction just below the 160 level.

However, the daily trend remains firmly bullish.

The most reasonable interpretation is:

a pullback within an ongoing uptrend.

USD/CHF

• Short-term: Bearish across all timeframes

• Daily: Bullish

The dollar is experiencing a modest correction.

This is not simply a case of yen weakness;

the dollar itself has also softened slightly.

---

2. Euro and Pound

EUR/USD

Bullish on the hourly chart.

GBP/USD

Bullish across all timeframes.

The British pound remains exceptionally strong.

Among the major currencies:

GBP is currently one of the strongest performers.

EUR/GBP

Bearish across all timeframes.

The pound continues to outperform the euro.

---

3. Oceania

AUD/USD

Bullish overall.

NZD/USD

Also bullish.

However, momentum in NZD has started to slow.

The Australian dollar currently appears more stable than the New Zealand dollar.

---

4. Yen Crosses

Yen crosses remain the dominant theme.

EUR/JPY

Bullish on both hourly and daily charts.

Trading around:

185.10

GBP/JPY

Strong Buy.

Trading around:

215.42

AUD/JPY

Bullish.

NZD/JPY

Bullish.

Overall, yen crosses remain strong.

The market continues to favor:

selling the yen.

---

5. Gold

Gold

Bullish across all short-term timeframes.

Gold has rebounded toward:

$4,490

The daily chart remains bearish,

but the short-term trend has recovered significantly.

Silver

Remains weak.

The widening divergence between gold and silver suggests that:

gold is being favored as a safe-haven asset.

---

6. Energy

Crude Oil

• Short-term: Bullish

• Daily: Bearish

Trading in the $92 area.

This appears to be a rebound within a broader downtrend.

Natural Gas

• Short-term: Bearish

• Daily: Bullish

Currently undergoing a corrective phase.

---

7. Bitcoin

BTC/USD

62,297

Bearish across all timeframes.

Bitcoin remains the weakest major asset class.

Despite strength in equities,

capital continues to avoid the crypto market.

---

8. Equity Markets

Equities remain broadly strong.

Dow Jones

Bullish on hourly and daily charts.

S&P 500

Bullish on hourly and daily charts.

Nasdaq

Short-term correction.

Long-term uptrend remains intact.

European Equities

• DAX

• FTSE 100

• CAC 40

Bullish across all major timeframes.

European equities are among the strongest markets currently.

Nikkei 225

• Short-term: Weak

• Daily: Bullish

Appears to be consolidating within a broader uptrend.

---

Strongest Markets

S Rank

1. GBP/USD

2. GBP/JPY

3. EUR/JPY

4. Gold

5. European Equities (DAX, CAC, FTSE)

A Rank

6. AUD/JPY

7. AUD/USD

8. Dow Jones

9. S&P 500

---

Weakest Markets

1. Bitcoin

2. Silver

3. USD/CHF

4. USD/JPY (short-term only)

5. EUR/GBP

---

Final Conclusion

The dominant market themes remain:

• Yen weakness

• Strong European currencies

• Rising equities

• Gold recovery

The most notable strength can currently be found in:

• GBP/USD

• GBP/JPY

• EUR/JPY

Meanwhile, Bitcoin remains under heavy selling pressure and continues to attract little investor interest.

Based purely on the technical picture,

the clearest opportunities continue to favor:

buying pullbacks in yen crosses and maintaining a bullish bias toward the British pound.