RBNZ Hints at Bigger Hikes as Kiwi Surge Accelerates: NZD/JPY and AUD/NZD Analysis

RBNZ officials signaled a possible restart of monetary tightening sooner and by more than previously expected, triggering a sharp Kiwi rally. NZD/JPY has been the main beneficiary as markets price a widening policy gap with the Bank of Japan, pushing the pair to the verge of a major breakout above 94.96 (highest since 2024) with a near-term target at 96.50 and support at 92.89. AUD/NZD has moved sharply lower as weaker Australian inflation and labor data reduced RBA tightening bets; technicals show a medium-term top at 1.2283, key resistance-turned-support at 1.2132 and downside targets around 1.1922 (with deeper risk to 1.1659). Overall the article frames the move as a policy-driven market impact with bullish bias for NZD/JPY and bearish bias for AUD/NZD, driven by shifting central-bank expectations.