The AUDJPY pair tracks the Australian dollar price against the Japanese Yen. This instrument is another cross-pair currency that does not include the US dollar. The value of the AUDJPY relates to how many Japanese Yen are needed to buy one Australian dollar.

What is AUDJPY?

The AUDJPY is a minor currency pair where AUD stands for Australian dollars, and JPY stands for Japanese Yen. It shows the number of JPY required to buy one AUD and is traded on the forex market, a decentralized global market for buying and selling currencies.

The AUDJPY exchange rate depends on several factors. The central banks of Australia and Japan have set interest rates that impact the demand for their respective currencies. Due to Australia's high and Japan's low interest rates, traders sell heavily in Yen to buy the Australian dollar, which causes the exchange rate to rise. On the other hand, economic performance is directly related to the exchange rate. If the Australian economy is performing well and growing faster than the Japanese, this could increase demand for the Australian dollar and cause the AUDJPY exchange rate to rise.

The overall market sentiment can also impact the demand for the AUDJPY currency pair. Investors seeking higher-risk assets may be more likely to buy the Australian dollar and sell the Japanese Yen, which can push up the AUDJPY exchange rate. Additionally, both Australia and Japan are commodity exporters. That's why traders focusing on how to invest in AUDJPY should pay attention to the commodity exchange.

How does AUDJPY work?

Traders trade AUDJPY typically on an online Forex platform. They often use a carry trade strategy in which an investor borrows money in a currency with a low interest rate (in this case, the Japanese Yen) and uses it to invest in a currency with a higher interest rate (the Australian dollar). In this way, they profit from the interest rate differentials between the two currencies.

The AUDJPY pair can be traded through the SimpleFX platform. Due to its liquidity, it is one of the most actively traded currency pairs in the forex market. Moreover, their reliance on commodity exports positively correlates with other commodity currencies, such as the New Zealand and Canadian dollars. Investors eager to learn how to trade AUDJPY can start with a demo account available on the SimpleFX platform.

AUDJPY price history

The exchange rate experienced a lot of price swings in the past years. There are prices highlighted below for investors to make wise investment decisions.

2018

The year started with an AUDJPY exchange rate value of 87.9203 JPY, and it ended at 77.1797 JPY, which was the worst value of the year too. The best exchange rate was 88.9725 JPY on 7th January 2018, and the year's average was 82.4938 JPY.

2019

On Tuesday, 1st January 2019, the exchange rate was 77.2834 JPY, and the year ended with 76.2433 JPY. The best exchange rate was 80.3946 JPY, and 70.1061 was the worst. Furthermore, the year's average was 75.8193 JPY.

2020

This year started with an exchange rate of 76.2889 JPY, and the closing value for the year was 79.4855 JPY. The best and the worst rates were 79.4855 JPY and 62.9853 JPY, respectively, with the year's average rate of 73.6717 JPY.

2021

At the start of the year, the AUDJPY exchange rate value was 79.4259 JPY, and the year ended with 83.664 JPY. However, the year's average exchange rate was 82.4702 JPY, with the best and the worst rates of 85.9679 JPY and 78.2834 JPY, respectively.

2022

The exchange rate value on 1st January 2022 was 83.6197 JPY; on 31st December 2022, the value was 89.2243 JPY. The best exchange rate of the year was 98.3389 JPY on 12th September 2022, with the worst and average rates of 80.5416 JPY and 91.0683 JPY, respectively.

Current AUDJPY price

The current AUDJPY price can be checked on the chart above and on the SimpleFX Webtrader platform.

Is AUDJPY a good investment?

According to some experts, the AUDJPY pair might be a good investment in case of the potential for the Australian dollar to appreciate due to rising commodity prices and improving economic conditions. However, risks such as monetary policy, political instability, and other unexpected events are associated with investing in the AUDJPY pair. Ultimately, investors eager to learn how to invest in forex should always conduct thorough research and analysis before deciding.

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