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What is the correlation between AUD and JPY in the cryptocurrency market?

avatarRidevMar 21, 2022 · 3 years ago1 answers

Can you explain the relationship between the Australian Dollar (AUD) and the Japanese Yen (JPY) in the cryptocurrency market? How do these two currencies interact and influence each other's value?

What is the correlation between AUD and JPY in the cryptocurrency market?

1 answers

  • avatarMar 21, 2022 · 3 years ago
    At BYDFi, we have observed a moderate positive correlation between AUD and JPY in the cryptocurrency market. However, it is important to conduct thorough research and analysis before making any trading decisions based on correlation alone. It is always recommended to consider multiple factors and use a comprehensive trading strategy that takes into account technical analysis, market trends, and risk management principles.