What makes AUD/JPY position sizing different
AUD/JPY is quoted as the number of Japanese yen per one Australian dollar. That means the quote currency is JPY, not USD. If your account is denominated in a currency other than JPY, your pip value calculation must convert from JPY to your account currency using the current USD/JPY rate (or your account currency's JPY cross). The live calculator above handles that conversion automatically, but you need to know that the pip value is not fixed in your account currency.
Unlike majors such as EUR/USD, where the pip value in USD is straightforward, AUD/JPY involves a triangular relationship. The pip value in AUD is constant per lot, but when you convert to your account currency, it fluctuates with the AUD/JPY and USD/JPY rates. This means your risk per lot changes as the market moves, so you must recalculate position size for each trade. The calculator above does this in real time.
| Instrument class | Cross pair |
|---|---|
| One pip | 0.01 |
| Standard lot | 100,000 AUD |
| Value of one pip per lot | 1,000 JPY — converting… |
| Notional value of one lot | — |
| Margin on one lot at 1:30 / 1:100 / 1:500 | — |
The last two rows move with the market and are filled in from the live rate; everything above them is fixed by the contract. Leverage available to you depends on your regulator and account type — check it in the platform before you size a position.
What actually moves AUD/JPY
AUD/JPY is driven by the monetary policy and economic outlook of the Reserve Bank of Australia and the Bank of Japan. The RBA's stance on interest rates and domestic growth affects the Australian dollar, while the Bank of Japan's ultra-loose policy and yield curve control influence the yen. Divergence between the two central banks often creates trends in this pair.
Additionally, AUD/JPY is sensitive to risk sentiment. The Australian dollar is a commodity currency, linked to global growth and Chinese demand, while the yen is a safe-haven currency. When risk appetite rises, AUD/JPY tends to climb; when it falls, the pair often drops sharply. Keep an eye on these drivers when sizing positions.
| Currency | Central bank | Policy rate | What moves it |
|---|---|---|---|
| AUD | Reserve Bank of Australia (RBA) | Cash rate target | RBA · CPI · China data |
| JPY | Bank of Japan (BoJ) | Short-term policy rate | BoJ · CPI · intervention signals |
Liquidity and execution notes
AUD/JPY is most liquid during the Asian session, when both Australian and Japanese markets are active. The Tokyo session overlaps with the Sydney session, providing the tightest spreads and deepest liquidity. During the London and New York sessions, liquidity thins out, and spreads can widen, increasing your effective cost per trade.
Before entering, check the economic calendar for Reserve Bank of Australia and Bank of Japan announcements, as well as Australian employment and Japanese inflation data. These events can cause volatility spikes, so you may want to reduce position size or avoid trading around them. Also, be aware of the swap rate, which can be significant for this pair due to the interest rate differential.
Spreads are tightest when two sessions are open at once and widest when one desk has gone home and the next has not arrived. The shaded band is the overlap.
Pip values sourced from ECB reference data (Frankfurter API). All values are indicative and for educational purposes — not live trading quotes. See full pip value table →