What makes AUD/JPY's pip value behave the way it does
AUD/JPY is quoted to two decimal places for most brokers, with the pip being the second decimal place. Because the yen is the quote currency, the pip value is initially expressed in yen. To convert that to your account currency, your broker applies a conversion rate, typically using the AUD/JPY rate itself or a cross rate if your account is in another currency.
The pip value therefore fluctuates with the AUD/JPY exchange rate. When the rate moves, the value of a pip in your account currency changes, even if your position size remains constant. This is different from pairs where the quote currency matches your account currency, where the pip value is fixed. Always check the live calculator above for the current pip value in your account currency before sizing a trade.
| 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 outlooks of the Reserve Bank of Australia and the Bank of Japan. The Reserve Bank of Australia influences the Australian dollar through its cash rate decisions and commentary on inflation and employment. The Bank of Japan influences the yen through its policy rate and yield curve control measures. Divergence in policy between these two central banks often leads to significant moves in AUD/JPY.
Additionally, AUD/JPY is sensitive to global risk sentiment. The Australian dollar is a commodity currency, while the yen is a safe-haven currency. When risk appetite is strong, AUD/JPY tends to rise; when risk aversion dominates, it tends to fall. Traders should monitor these central bank actions and broader market sentiment.
| 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 what to watch before entering
AUD/JPY is most liquid during the Asian session, when both Australian and Japanese markets are active. Liquidity can thin out during the London and New York sessions, leading to wider spreads and potential slippage. Before entering a trade, check the current spread and ensure your broker offers competitive pricing during your intended trading hours.
Also consider upcoming economic releases from Australia and Japan, as well as global risk events. These can cause volatility spikes, affecting both pip value and execution. Use the calculator above to stay updated on pip values, and always manage your risk with appropriate position sizing.
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). Live BTC/ETH prices from CoinGecko. All values are indicative and for educational purposes — not live trading quotes. See full pip value table →