The Australian and New Zealand dollars jumped on the yen on Thursday after Japanese authorities intervened to restrain their racy currency, while the Bank of Japan eased monetary policy. However, with both the Bank of Japan and the Swiss central bank acting to lift the US dollar, the Aussie took a 1 percent hit on the US currency to $1.0660. Support seen at $1.0650, the 19 July trough, ahead of major barriers at $1.0560.
Against the yen, the Aussie catapulted 2 percent higher to 84.72 yen. The cross, which broke through the 200-day MA of 84.15, is likely to find major resistance at 85.05, the 38.2 percent of the 90.04-82.03 April-August decline, ahead of the Ichimoku could base of 85.58.
Similarly, the kiwi leapt 1.5 percent to 67.44 yen with a first barrier seen at Tuesday's high of 68.10, ahead of 69.35, the trend high of May 2010. The currency skidded a cent and a half to $0.8510, or 1.6 percent lower with resistance seen at $0.8490. The Aussie bounced back against its kiwi cousin to NZ$1.2532, having it a one-year low at NZ$1.2366 earlier in the week. The cross has fallen from about NZ$1.30 in early July.
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