【Technical Analysis】13 August 2026
■ Summary
The main themes in the current market are dollar weakness, strength in yen crosses, higher precious metals, and rising equities.
In FX, EUR/USD, GBP/USD, AUD/USD, and NZD/USD are strong, with dollar selling dominant across dollar pairs. EUR/USD, GBP/USD, and NZD/USD are particularly strong, showing strong buy signals across all timeframes.
USD/JPY is trading at 159.17. The hourly chart is strongly bearish and the daily chart is also bearish. Although the pair remains in the 159 range, the technical picture shows heavy upside resistance, keeping the focus on selling rebounds.
Among yen crosses, GBP/JPY, AUD/JPY, NZD/JPY, and CAD/JPY are strongly bullish across all timeframes, showing a strong return of yen selling. However, CHF/JPY is strongly bearish on the hourly and daily charts, highlighting divergence among yen crosses.
In commodities, gold and silver remain strong, and the precious-metals rally continues. WTI crude oil is strongly bullish on the daily chart but strongly bearish in the short term, indicating a correction within the broader uptrend. BTC is strongly bearish on both the hourly and daily charts, underperforming precious metals and equity indices.
In equities, the DAX, Nikkei Average, Dow Jones, and S&P 500 are strong, maintaining the broader equity rally. The DAX is strongly bullish across all timeframes, while the Nikkei Average remains strongly bullish on the daily chart.
■ Currency Markets
USD/JPY
USD/JPY is trading at 159.17.
The 5-minute chart is neutral, the 15-minute chart is bearish, the hourly chart is strongly bearish, and the daily chart is bearish.
Although the pair remains in the 159 range, it is showing heavy upside resistance from the short term through the hourly chart. With the daily chart also bearish, selling rebounds is more appropriate than chasing the upside.
The 159 range is also a level where intervention concerns are likely to increase. Even if a short-term rebound occurs, it is preferable to confirm upside resistance rather than chase higher prices.
USD/CHF
USD/CHF is trading at 0.8132.
The 5-minute chart is neutral, the 15-minute chart is strongly bearish, the hourly chart is bearish, and the daily chart is strongly bullish.
Dollar selling is visible from the short term through the hourly chart, while the daily chart remains bullish. With short-term and daily directions diverging, this is not a market to chase aggressively.
The short-term view favors selling rebounds, while the daily chart presents potential buy-on-dips opportunities.
EUR/USD
EUR/USD is trading at 1.1555.
The 5-minute, 15-minute, hourly, and daily charts are all strongly bullish.
Euro buying and dollar selling are clear, creating a very strong setup. Direction is fully aligned from the short term through the daily chart, favoring buying on dips.
However, as the pair has risen recently, confirmation of a pullback is preferable to chasing the move higher.
GBP/USD
GBP/USD is trading at 1.3529.
All timeframes are strongly bullish.
This is one of the strongest currency pairs in the current FX market. Sterling buying and dollar selling are very clear, with the trend aligned from the short term through the daily chart.
Buying on dips remains favored. As EUR/GBP is strongly bearish across all timeframes, sterling is also clearly outperforming the euro.
AUD/USD and NZD/USD
AUD/USD is trading at 0.7076.
The 5-minute chart is neutral, while the 15-minute, hourly, and daily charts are strongly bullish.
Short-term momentum has eased somewhat, but the broader bias remains bullish.
NZD/USD is trading at 0.5881.
The 5-minute, 15-minute, hourly, and daily charts are all strongly bullish.
The New Zealand dollar is also very strong, with a clear bullish bias among dollar pairs.
AUD/NZD is strongly bearish on the 15-minute and hourly charts, while the daily chart remains bullish.
In the short term, the New Zealand dollar is stronger than the Australian dollar. However, the daily chart still favors the Australian dollar, creating different views depending on the timeframe.
Yen Crosses
Yen crosses are generally seeing a strong return of yen selling.
The strongest pairs are:
● GBP/JPY
● AUD/JPY
● NZD/JPY
● CAD/JPY
● EUR/JPY
GBP/JPY is trading at 215.34.
The 5-minute, 15-minute, hourly, and daily charts are all strongly bullish. Sterling itself is strong, making GBP/JPY one of the strongest yen crosses.
AUD/JPY is trading at 112.62.
All timeframes are strongly bullish. As AUD/USD is also strong, Australian dollar buying is clear.
NZD/JPY is trading at 93.61.
This pair is also strongly bullish across all timeframes. Together with NZD/USD, this confirms broad New Zealand dollar strength.
CAD/JPY is trading at 114.60.
All timeframes are strongly bullish, combining renewed yen selling with a resilient Canadian dollar.
EUR/JPY is trading at 183.92.
The short-term and hourly charts are strongly bullish, while the daily chart is neutral. The short-term setup is strong, but the daily chart has not yet fully confirmed the resumption of an uptrend.
In contrast, CHF/JPY is trading at 195.73.
The short-term charts are strongly bullish, while the hourly and daily charts are strongly bearish. CHF/JPY remains weak even as other yen crosses are strong.
EUR/GBP
EUR/GBP is trading at 0.8542.
The 5-minute, 15-minute, hourly, and daily charts are all strongly bearish.
Euro selling and sterling buying are very clear. EUR/USD is also strong, but GBP/USD is stronger, confirming sterling’s relative outperformance.
EUR/GBP remains a sell-on-rebounds candidate.
■ Commodity Markets
Gold
XAU/USD is trading at 4,352.42.
The 5-minute chart is neutral, the 15-minute chart is bullish, and the hourly and daily charts are strongly bullish.
Gold futures are trading at 4,408.05, with the hourly and daily charts also strongly bullish.
Gold remains near high levels, and the broader trend favors buying. Short-term momentum has eased somewhat, but daily-chart strength remains intact.
Buying remains favored, but confirmation of a pullback is preferable to chasing prices higher.
Silver
XAG/USD is trading at 64.6575.
The 5-minute chart is bearish, the 15-minute chart is bullish, and the hourly and daily charts are strongly bullish.
Silver futures are also strongly bullish on the hourly and daily charts.
Short-term profit-taking is occurring, but the broader trend remains bullish. Like gold, silver is a potential buy-on-dips candidate.
WTI Crude Oil
WTI crude oil is trading at 81.71.
The 5-minute and 15-minute charts are strongly bearish, the hourly chart is neutral, and the daily chart is strongly bullish.
The daily uptrend remains intact, but short-term corrective pressure is strong. Although prices remain above $80, chasing higher prices should be approached cautiously until short-term selling subsides.
For long positions, improvement on the 15-minute and hourly charts should be confirmed.
Natural Gas
Natural gas is trading at 2.747.
The 5-minute, 15-minute, and hourly charts are strongly bearish, while the daily chart is neutral.
Selling is clear from the short term through the hourly chart. Although the daily chart is neutral and the broader structure has not broken down completely, selling rebounds remains favored.
Natural gas is considerably weaker than crude oil.
BTC
BTC/USD is trading at $62,879.
The 15-minute, hourly, and daily charts are strongly bearish.
Although there is some neutral short-term momentum, the broader trend is clearly weak. While precious metals and equity indices are strong, BTC remains under heavy selling pressure and is underperforming among risk assets.
The current bias is toward selling rebounds rather than buying dips.
■ Equity Markets
U.S. Equities
The Dow Jones is trading at 53,839.99.
The 5-minute, 15-minute, hourly, and daily charts are all strongly bullish.
This is a very strong setup among U.S. equities. Direction is fully aligned from the short term through the daily chart, favoring buying on dips.
The S&P 500 is trading at 7,798.99.
The 5-minute chart is bearish, while the 15-minute, hourly, and daily charts are strongly bullish.
Some short-term profit-taking is occurring, but the broader trend remains bullish.
The NASDAQ 100 is trading at 30,084.50.
The 5-minute chart is strongly bearish, while the hourly and daily charts are strongly bullish.
Technology stocks are seeing a short-term correction at elevated levels, but the broader trend remains bullish. It is important to confirm whether short-term selling pressure eases.
European Equities
The DAX is trading at 26,488.44.
The 5-minute, 15-minute, hourly, and daily charts are all strongly bullish.
It is one of the strongest equity indices in the current market, favoring buying on dips.
The UK 100 is trading at 10,765.10.
The 5-minute chart is strongly bullish, while the hourly chart is strongly bearish and the daily chart is neutral.
It is comparatively weak among European indices.
The CAC 40 is trading at 8,656.00.
The 5-minute chart is strongly bullish, the 15-minute chart is bullish, the hourly chart is strongly bearish, and the daily chart is strongly bullish.
The daily trend remains strong, but the hourly chart is correcting. The DAX remains the most straightforwardly bullish European index.
Japanese Equities
The Nikkei Average is trading at 68,732.00.
The 5-minute chart is bullish, the 15-minute chart is neutral, the hourly chart is bullish, and the daily chart is strongly bullish.
The daily chart remains very strong. However, momentum has eased somewhat from the previous all-timeframe strong-buy structure.
The bullish bias remains intact, but as the market is at elevated levels, confirmation of a pullback should be prioritized.
■ Strength Ranking
S Rank
EUR/USD
GBP/USD
NZD/USD
GBP/JPY
AUD/JPY
NZD/JPY
CAD/JPY
DAX
Dow Jones
A Rank
AUD/USD
XAU/USD
XAG/USD
Gold futures
Silver futures
Nikkei Average
S&P 500
EUR/CHF
B Rank
EUR/JPY in the short term
WTI crude oil on the daily chart
NASDAQ 100 on the daily chart
CAD/JPY
AUD/NZD on the daily chart
■ Weakness Ranking
S Rank
EUR/GBP
BTC/USD
CHF/JPY on the hourly chart
CHF/JPY on the daily chart
Natural gas in the short term
A Rank
USD/JPY
USD/CHF in the short term
WTI crude oil in the short term
NASDAQ 100 in the short term
UK 100 on the hourly chart
B Rank
AUD/NZD in the short term
S&P 500 in the short term
CAC 40 on the hourly chart
Natural gas on the hourly chart
The U.S. dollar overall
■ Market Theme
The main themes are dollar weakness, strength in yen crosses, higher precious metals, and rising equities.
EUR/USD, GBP/USD, and NZD/USD are strongly bullish across all timeframes, confirming broad dollar selling.
GBP/USD has risen to 1.3529, while EUR/GBP is strongly bearish across all timeframes. Sterling strength is therefore particularly notable.
GBP/JPY, AUD/JPY, NZD/JPY, and CAD/JPY are strongly bullish across all timeframes, reflecting strong renewed yen selling. In contrast, CHF/JPY is strongly bearish on the hourly and daily charts, making currency selection important.
Gold and silver remain strong at elevated levels, while WTI crude oil is strongly bullish on the daily chart but is correcting in the short term.
The DAX, Dow Jones, Nikkei Average, and S&P 500 remain strong. However, the NASDAQ 100 is seeing short-term selling, requiring caution toward profit-taking in technology stocks.
■ Trading Strategy
Bullish Bias
EUR/USD
GBP/USD
NZD/USD
GBP/JPY
AUD/JPY
NZD/JPY
CAD/JPY
DAX
Dow Jones
Potential Buy-on-Dips Candidates
AUD/USD
XAU/USD
XAG/USD
Gold futures
Silver futures
Nikkei Average
S&P 500
EUR/CHF
WTI crude oil on the daily chart
Potential Sell-on-Rebounds Candidates
EUR/GBP
BTC/USD
CHF/JPY on the hourly chart
CHF/JPY on the daily chart
Natural gas in the short term
USD/JPY
USD/CHF in the short term
■ Markets Requiring Caution
USD/JPY remains in the 159 range, but the hourly and daily charts favor selling. With intervention concerns likely at these levels, selling rebounds is more appropriate than chasing the upside.
EUR/USD, GBP/USD, and NZD/USD are strongly bullish across all timeframes. Buying on dips remains favored, but confirmation of a pullback is important after the recent rise.
GBP/JPY, AUD/JPY, NZD/JPY, and CAD/JPY are strongly bullish across all timeframes. Yen selling has returned strongly, but short-term corrections should be expected at elevated levels.
Gold and silver are strongly bullish on the hourly and daily charts. Precious metals remain strong, but attention is needed for short-term profit-taking after their sharp advances.
BTC is strongly bearish on the hourly and daily charts. It remains weak compared with precious metals and equity indices, favoring a sell-on-rebounds approach.
The DAX, Dow Jones, and Nikkei Average are strong, while the NASDAQ 100 is strongly bearish in the short term. The market favors prioritizing stronger indices while monitoring divergence across equity markets.
■ Summary
The current market is centered on dollar weakness, higher yen crosses, higher precious metals, and rising equities.
The strongest instruments are EUR/USD, GBP/USD, NZD/USD, GBP/JPY, AUD/JPY, NZD/JPY, CAD/JPY, the DAX, and the Dow Jones.
In contrast, EUR/GBP, BTC/USD, CHF/JPY on the hourly and daily charts, short-term natural gas, and USD/JPY are weak and remain vulnerable to selling on rebounds.
Overall, the market favors buying pullbacks in strong dollar pairs, yen crosses, precious metals, the DAX, and the Dow Jones, while considering selling rebounds in weak EUR/GBP, BTC, CHF/JPY, short-term natural gas, and USD/JPY.
