Market Analysis Summary
Published on: June 3, 2026
Author: Axel Rudolph, Market Analyst
Overview
The Nasdaq 100 has reached new record highs, trading at levels not seen before, while Brent crude oil prices have increased for the third consecutive day. The USD/JPY currency pair is also experiencing significant movements, nearing the ¥160 mark.
Key Market Updates
- Brent Crude Oil: Prices rose over 2% to $97.00 per barrel, driven by renewed tensions in the Gulf region and stalled US-Iran peace negotiations. Recent Iranian missile attacks have heightened market concerns.
- USD/JPY: The US dollar briefly reached ¥160 before pulling back, as traders speculate on potential Japanese currency intervention. The market is pricing in a 75% chance of a Bank of Japan rate hike in June.
- Asian Markets: The Nikkei 225 index in Japan surpassed 68,000 for the first time, boosted by strong performances from semiconductor companies like Tokyo Electron and Advantest.
- Marvell Technology: Shares surged 32.5% after Nvidia's CEO praised the company, igniting enthusiasm in the AI sector.
- Cryptocurrency Market: Bitcoin has fallen nearly 10% over three sessions, reaching a two-month low of $65,371, as investors sell off in anticipation of market volatility.
- US Labor Market Data: Job openings saw their largest increase in five years in April, with investors awaiting further data that could impact Federal Reserve policy.
Technical Analysis
Nasdaq 100
The Nasdaq 100 is on an upward trajectory, targeting a 100% extension from the April to October 2025 advance, projected at 32,481. Support levels are identified at 30,025 and 29,678.
USD/JPY
The USD/JPY pair is trading at one-month highs, with potential resistance at ¥160.46 to ¥160.72. Support is noted at ¥159.65.
Brent Crude
Brent crude is recovering from a low of $89.65, aiming for resistance levels between $97.16 and $100.08. Support is found at $94.64 and $93.29.