Convert AUD to JPY
Both Australia and Japan are economies that depend heavily on trade. As a result, whenever either country posts a strong trade surplus, it strengthens its economy as well as currency. For instance, a stronger trade surplus for Japan would strengthen the JPY and turn AUD/JPY bearish.
The Japanese yen is one of the most popular safe haven currencies in the forex market, gaining strength whenever economic uncertainty increases. This is because Japan offers very low interest rates, letting investors borrow the JPY to purchase other currencies that offer high growth potential. When markets trade with high volatility, investors move away from riskier currencies and cover short positions in the yen, giving it a safe haven status.
The AUD/JPY currency pair sees an average movement of around 80 pips.