The AUD/JPY currency pair, which expresses the value of the Australian dollar in terms of the Japanese yen, is a popular pair by virtue of its efficacy in providing traders and investors with a signal as to where global markets may be headed.
The Australian dollar is traditionally recognized as a "commodity currency", a term which accounts for two things: the main factor being, in this case, the large commodity export exposures of Australia. Per the website of the Observatory of Economic Complexity, the country's top exports include iron ore (20% of exports), coal