Today’s Technical Analysis 28 August 2026
■ Summary
Today’s central themes are broad yen weakness, rising gold and silver, and stronger U.S. equities and the DAX.
USD/JPY, EUR/JPY, GBP/JPY, CHF/JPY, AUD/JPY, and CAD/JPY all show Strong Buy signals from the short-term through the daily chart. Yen selling is not limited to a particular currency but is spreading across yen crosses as a whole.
Among dollar pairs, EUR/USD, GBP/USD, and NZD/USD are Strong Sell from the short-term through the hourly chart. However, USD/CHF is also declining, meaning this is not broad dollar strength. The clearest relative-strength pattern is yen weakness, alongside relatively firm Swiss franc and Australian dollar performance.
Gold and silver are Strong Buy from the short-term through the daily chart. They have rebounded sharply from yesterday’s short-term correction and returned to an upward trend.
In equities, the S&P 500, Nasdaq 100, and DAX are Buy across the short-term through the daily chart. The Dow is also strong, indicating broadly risk-positive conditions.
■ FX Market
EUR/USD 1.1641
The 5-minute, 15-minute, and hourly charts are Strong Sell, while the daily chart is Strong Buy.
A clear downward correction continues from the short-term through the hourly timeframe. Selling on rebounds is favored for now, while the daily uptrend remains intact.
It is preferable not to rush into daily-trend dip buying until the hourly chart improves to Neutral or Buy.
GBP/USD 1.3583
The 5-minute, 15-minute, and hourly charts are Strong Sell, while the daily chart is Buy.
Like EUR/USD, GBP/USD is undergoing a short-term correction within its daily uptrend. Selling on short-term rebounds is favored, while the daily chart remains a potential buy-on-dips setup.
USD/JPY 159.68
All timeframes are Strong Buy.
USD/JPY is one of the clearest uptrends in the FX market. Dollar buying and yen selling are aligned from the short-term through the daily chart.
Buying on dips remains favored. However, with the pair close to 160.00, avoid chasing highs and remain alert to sharp declines caused by official comments or intervention concerns.
USD/CHF 0.8039
The 5-minute, 15-minute, and hourly charts are Strong Sell, while the daily chart is Sell.
USD/CHF is in a clear downtrend. With USD/JPY rising while USD/CHF falls, the move in USD/JPY appears to be driven more by yen weakness than broad dollar strength.
Selling on rebounds remains favored.
AUD/USD 0.7197
The 5-minute and hourly charts are Neutral, the 15-minute chart is Buy, and the daily chart is Strong Buy.
AUD/USD is relatively resilient compared with other dollar pairs. Short-term momentum is limited, but the daily uptrend remains strong, making it a buy-on-dips candidate.
NZD/USD 0.5950
The 5-minute, 15-minute, and hourly charts are Strong Sell, while the daily chart is Strong Buy.
A clear correction is underway from the short-term through the hourly chart. Given the conflict with the daily uptrend, short-term selling on rebounds is favored for now.
■ JPY Crosses
EUR/JPY 185.87
All timeframes are Strong Buy.
Although EUR/USD is falling, yen weakness is outweighing it. With bullish signals aligned from the short-term through the daily chart, buying on dips is favored.
GBP/JPY 216.86
All timeframes are Strong Buy.
GBP/USD is correcting, but strong yen selling is keeping GBP/JPY in an uptrend. Buying on dips remains favored.
CHF/JPY 198.63
All timeframes are Strong Buy.
Swiss franc strength and yen weakness are creating a powerful uptrend. With the pair trading near the 200 level, maintain a bullish bias but avoid chasing highs.
AUD/JPY 114.92
All timeframes are Strong Buy.
Australian dollar resilience and yen weakness are combining to make AUD/JPY one of the strongest yen crosses. Buying on dips remains favored.
NZD/JPY 95.01
The 5-minute, hourly, and daily charts are Strong Buy, while the 15-minute chart is Neutral.
Momentum has slowed temporarily on the 15-minute chart, but the overall uptrend remains intact. It is a buy-on-dips candidate after a short-term correction.
CAD/JPY 115.22
All timeframes are Strong Buy.
Despite the short-term decline in oil, CAD/JPY remains in a strong uptrend due to yen weakness. Buying on dips remains favored.
EUR/GBP 0.8571
The 5-minute, 15-minute, and hourly charts are Neutral, while the daily chart is Strong Buy.
There is no clear short-term direction, but the daily chart favors the euro. If short-term charts turn higher, it becomes a daily-trend buy-on-dips candidate.
AUD/NZD 1.2096
All timeframes are Strong Buy.
The Australian dollar is outperforming the New Zealand dollar. This is consistent with resilient AUD/USD and strong short-term selling pressure in NZD/USD.
AUD/NZD is one of the clearest expressions of current relative currency strength, favoring buying on dips.
EUR/CHF 0.9358
The 5-minute chart is Sell, the 15-minute and hourly charts are Strong Sell, and the daily chart is Buy.
Euro selling and Swiss franc buying are dominant from the short-term through the hourly chart. The daily chart remains Buy, but short-term selling on rebounds is favored for now.
■ Gold and Silver
Spot Gold $4,607.09
Gold Futures $4,659.36
All timeframes are Strong Buy.
Yesterday, gold was Strong Sell from the short-term through the hourly chart, but it has now reversed into broad buying. The short-term correction may have ended, with the daily uptrend resuming.
Buying on dips is favored, but avoid chasing the sharp rebound and wait for short-term pullbacks.
Spot Silver $70.5725
Silver Futures $70.513
All timeframes are Strong Buy.
Silver has risen above $70 and is showing even stronger momentum than gold. Bullish signals are fully aligned from the short-term through the daily chart, making silver the strongest commodity market in the current setup.
However, volatility can be significant. Keep position sizes controlled and be prepared for sudden profit-taking.
■ Oil and Natural Gas
WTI Crude Oil $83.07
The 5-minute chart is Strong Sell, the 15-minute chart is Sell, the hourly chart is Strong Sell, and the daily chart is Buy.
A clear short-term-to-hourly correction is underway against the daily uptrend. Selling on rebounds is favored in the short term.
For daily-trend longs, wait for the hourly chart to improve from Sell to Neutral or Buy.
Natural Gas 2.896
The 5-minute chart is Neutral, the 15-minute and hourly charts are Strong Sell, and the daily chart is Strong Buy.
Natural gas is undergoing a short-term correction within its daily uptrend. Short-term selling on rebounds is favored, while the daily chart remains a buy-on-dips candidate.
■ BTC/USD
BTC/USD $79,328
The 5-minute, 15-minute, and hourly charts are Strong Sell, while the daily chart is Strong Buy.
BTC remains in its daily uptrend but is undergoing a correction from the short-term through the hourly timeframe.
Rather than chasing the short-term decline, watch whether BTC stabilizes near $79,000. Consider daily-trend dip buying once the hourly chart improves.
■ Equity Markets
U.S. Equities
The Dow is Strong Buy on the 5-minute and daily charts, Neutral on the 15-minute chart, and Buy on the hourly chart.
There is a minor short-term pause, but the overall trend remains upward. Buying on dips is favored.
The S&P 500 is Strong Buy on the 5-minute, 15-minute, and hourly charts, while the daily chart is Buy.
The short- to medium-term advance is strong, indicating broad risk appetite in U.S. equities. Buying on dips remains favored.
The Nasdaq 100 is Strong Buy across all timeframes.
It has reversed sharply from yesterday’s weak condition, with bullish signals now aligned from the short-term through the daily chart. Buying in U.S. technology shares has strengthened again, favoring buying on dips.
European Equities
The DAX is Strong Buy across all timeframes.
It is exceptionally strong alongside U.S. equities. Buying on dips remains favored.
The FTSE 100 is Sell on the 5-minute chart, Neutral on the 15-minute chart, Strong Sell on the hourly chart, and Buy on the daily chart.
A short-term-to-hourly correction continues against the daily uptrend. It is preferable to wait for hourly improvement before considering longs.
The CAC 40 is Strong Buy on the 5-minute and 15-minute charts, Sell on the hourly chart, and Strong Sell on the daily chart.
Although the index has rebounded sharply in the short term, the medium-term and daily trends remain bearish. Rather than chasing short-term buying, focus on potential sell-on-rebound opportunities once the rebound stalls.
Japanese Equities
Nikkei Average 66,385
All timeframes are Neutral.
Moving averages are Buy, but technical indicators are weak and do not align. There is no clear trend at present, so waiting for directional signals to align is preferable to aggressive trading.
■ Strength Ranking
S Rank
・USD/JPY
・EUR/JPY
・GBP/JPY
・CHF/JPY
・AUD/JPY
・CAD/JPY
・Gold
・Silver
・AUD/NZD
・Nasdaq 100
・DAX
A Rank
・NZD/JPY
・S&P 500
・Dow Jones
・AUD/USD daily chart
■ Weakness Ranking
S Rank
・USD/CHF
・EUR/USD short term
・GBP/USD short term
・NZD/USD short term
・BTC/USD short term
・EUR/CHF short term
A Rank
・WTI crude oil short term
・Natural gas short term
・FTSE 100 hourly chart
・CAC 40 daily chart
■ Trading Strategy
Buy Bias
・USD/JPY
・EUR/JPY
・GBP/JPY
・CHF/JPY
・AUD/JPY
・CAD/JPY
・AUD/NZD
・Gold
・Silver
・S&P 500
・Nasdaq 100
・DAX
Buy-on-Dips Candidates
・AUD/USD
・NZD/JPY
・EUR/GBP daily chart
・BTC/USD daily chart
・WTI crude oil daily chart
・Natural gas daily chart
・Dow Jones
Sell-on-Rebounds Candidates
・USD/CHF
・EUR/USD short term
・GBP/USD short term
・NZD/USD short term
・EUR/CHF short term
・BTC/USD short term
・WTI crude oil short term
・Natural gas short term
・FTSE 100 short term
・CAC 40
■ Markets Requiring Caution
USD/JPY and the major yen crosses show broadly aligned Buy signals. However, holding multiple yen-selling positions simultaneously effectively concentrates the same short-yen risk. For risk management, it is better to select only the pair with the clearest setup among USD/JPY, EUR/JPY, AUD/JPY, and CAD/JPY.
USD/JPY has risen to 159.68, placing 160.00 immediately ahead. Technical signals remain strongly bullish, but intervention-related downside risk is also increasing at this level.
Gold and silver have turned into Strong Buy across all timeframes. Silver, in particular, has strong momentum, but the price range can widen sharply after a rapid advance. It is preferable to wait for pullbacks rather than chase highs.
U.S. equities and the DAX are strong, while the CAC 40 and FTSE 100 are weak. Avoid treating equities as one uniform market; focus instead on regional differences in relative strength.
