【Technical Analysis】13 August 2026
■ Summary
In the short term, both dollar selling and yen selling are occurring, supporting yen crosses such as EUR/JPY, GBP/JPY, and AUD/JPY. On the daily charts, however, USD/JPY remains bearish, while gold and equity indices remain bullish.
Many instruments show different directions between short-term and daily charts, so this is not a market to chase. The basic approach is to buy pullbacks or sell rebounds, while waiting for the hourly chart to align with the broader direction.
■ Foreign Exchange Market
EUR/USD: 1.1534
The 5-minute and 15-minute charts are strongly bullish, and the hourly chart is also bullish. The daily chart is neutral.
Short-term euro buying remains dominant, but the daily chart has not yet confirmed a full resumption of the uptrend. Buying on dips is favored in the short term, while caution is needed for profit-taking near daily-chart highs.
GBP/USD: 1.3491
The short-term charts are strongly bullish, while the hourly chart is bearish and the daily chart is strongly bullish.
Although the broader trend remains upward, the hourly chart is in a corrective phase. Rather than chasing the short-term rise, it is preferable to wait for the hourly chart to recover to a bullish signal before considering buy-on-dips opportunities.
USD/JPY: 159.34
The 5-minute and 15-minute charts are strongly bearish, while the daily chart is also strongly bearish.
USD/JPY remains dominated by downside momentum across timeframes, favoring a sell-on-rebounds approach. Price action is likely to remain volatile in the 159 range, so attention is needed for sharp short-covering. It is preferable to wait for rebounds rather than chase new lows.
USD/CHF: 0.8122
The short-term and hourly charts are bearish, while the daily chart is strongly bullish.
This appears to be a correction within the daily uptrend, so caution is needed before extending short positions. If the pair stabilizes around daily support levels, it may become a buy-on-dips candidate.
AUD/USD: 0.7058
The short-term charts are strongly bullish, the hourly chart is neutral, and the daily chart is strongly bullish.
AUD/USD remains supported by dollar selling, favoring a buy-on-dips approach. However, hourly momentum has slowed somewhat, so chasing prices higher in the upper 0.70 range should be approached cautiously.
NZD/USD: 0.5843
The short-term charts are strongly bullish, while the hourly chart is bearish and the daily chart is bullish.
Short-term buying is conflicting with hourly corrective pressure, making directional momentum unclear. It is preferable to wait until the hourly chart turns bullish.
EUR/JPY: 183.79
The 5-minute, 15-minute, and hourly charts are strongly bullish, while the daily chart is neutral.
Yen selling and euro buying are overlapping, making EUR/JPY one of the strongest pairs in the short term. However, after a sharp rise, it is preferable to wait for a short-term pullback rather than chase higher prices.
GBP/JPY: 214.97
Buying remains dominant from the short term through the daily chart.
The pair continues to trend higher on sterling strength and yen weakness. It is a buy-on-dips candidate among yen crosses, but positions should be kept light at elevated levels due to the risk of sudden profit-taking.
CHF/JPY: 196.19
The short-term and hourly charts are strongly bullish, while the daily chart is strongly bearish.
Short-term buying is strong, but it runs against the daily trend. Trading should therefore be limited to the short term, with attention to signs that the daily bearish trend is resuming.
AUD/JPY: 112.45
CAD/JPY: 114.32
Both pairs are strongly bullish in the short term, with daily charts also favoring buying.
They are relatively straightforward bullish setups within the yen-cross rally, but short-term charts may become overbought quickly. Waiting for pullbacks is preferable.
NZD/JPY: 93.10
The short-term chart is bullish, while the hourly and daily charts are strongly bearish.
This may remain only a short-term rebound, making NZD/JPY a potential sell-on-rebounds candidate. Focus on whether hourly selling strengthens again.
■ Precious Metals and Energy
GOLD: $4,383.88
Gold Futures: $4,441.70
The daily charts remain strongly bullish, while the hourly chart is bearish.
The longer-term uptrend remains intact, but gold is in a short-term correction. The preferred approach is to wait for hourly selling to ease before considering buy-on-dips positions.
SILVER: $64.62
Silver Futures: $64.82
Although the short-term chart is bullish, the 15-minute and hourly charts are bearish, while the daily chart is bullish.
Silver is more volatile than gold and remains in a short-term corrective phase. While the daily uptrend remains intact, aggressive buying should be avoided until the hourly chart confirms a base.
WTI Crude Oil: $81.80
The short-term and hourly charts are strongly bearish, while the daily chart is strongly bullish.
This is a correction within the daily uptrend. Short-term sell-on-rebounds trades are favored, but as these positions go against the daily bullish trend, profits should be taken quickly.
Natural Gas: $2.780
Natural gas is weak from the short term through the daily chart, with the 15-minute and hourly charts particularly bearish.
Selling rebounds remains favored, although the daily chart is approaching neutral territory. Attention is needed for sudden rebounds from low levels.
BTC/USD: $63,810
The short-term charts are strongly bullish and the hourly chart is bullish, while the daily chart is strongly bearish.
A short-term rebound continues, but the medium-term downtrend remains in place. Caution is needed for daily-chart selling pressure, and it is difficult to confirm a medium- to long-term bullish reversal until the daily chart improves to at least neutral.
■ Equity Indices
U.S. equities remain strongly bullish on the daily charts. However, the Dow Jones is strongly bearish from the short term through the hourly chart, while the S&P 500 and NASDAQ 100 are also weak on the 5-minute and 15-minute charts. This suggests that a short-term correction is underway within the broader uptrend.
Germany’s DAX is strongly bullish across all timeframes and remains the strongest index. The CAC 40 and Nikkei Average are also bullish on the daily and hourly charts. European and Japanese equities remain suitable for buy-on-dips strategies after short-term corrections.
■ Strength Ranking
S Rank
EUR/JPY
DAX
EUR/USD
AUD/JPY
CAD/JPY
A Rank
GBP/JPY
AUD/USD
Gold
Nikkei Average
CAC 40
■ Weakness Ranking
S Rank
USD/JPY
Natural Gas
NZD/JPY
WTI Crude Oil in the short term
Silver in the short term
A Rank
USD/CHF
BTC/USD on the daily chart
Dow Jones in the short term
■ Trading Strategy
Bullish Bias
● EUR/JPY: Buy on dips after a short-term correction
● AUD/USD: Buy on dips after confirmation that the hourly chart has turned bullish again
● AUD/JPY and CAD/JPY: Buy on dips after a short-term correction
● Gold: Buy on dips after hourly selling pressure weakens
● DAX and Nikkei Average: Buy on dips after a short-term correction
Sell-on-Rebounds Bias
● USD/JPY: Consider selling after a rebound
● NZD/JPY: Sell on rebounds after confirmation that hourly selling has resumed
● WTI crude oil: Favor short-term sell-on-rebounds trades, while remaining cautious of the daily uptrend
● BTC/USD: Remain cautious of daily-chart selling pressure
■ Markets Requiring Caution
USD/JPY is bearish through the daily chart, but sharp short-covering is likely in the 159 range. Selling rebounds is favored, but chasing lows should be avoided.
Gold, silver, and U.S. equities retain bullish daily trends but are correcting on the hourly charts. It is important not to mistake short-term declines for a medium- to long-term trend reversal, and to wait for hourly confirmation before entering.
■ Summary
The broader market remains characterized by rising equities, rising gold, and a declining USD/JPY trend on the daily charts. In the short term, yen crosses are strong, while USD/JPY remains clearly bearish.
The most straightforward opportunities are buy-on-dips trades in EUR/JPY, AUD/JPY, and CAD/JPY, together with sell-on-rebounds trades in USD/JPY. Gold, silver, and U.S. equities retain medium- to long-term strength, making it preferable to wait for the current short-term corrections to end.
