About the AUD/JPY rate
The AUD/JPY rate is how many JPY one Australian dollar buys. It moves constantly with interest-rate expectations, commodity prices and global risk sentiment - see what moves the rate. Tradergy shows the mid-market reference rate and does not forecast where it’s heading. For the 52-week highs and lows and a daily table, see the AUD/JPY rate history.
Where else this pair appears: the reverse rate, JPY → AUD, is on the receiving Japanese yen view, and sending Australian dollars to Japan is covered on the AUD → JPY transfer page. Every AUD pair sits on the convert hub, and to work in more than one currency at once there is the currency converter.
What the Bank of Japan is required to do
The instruction is old and the number is recent. The Bank of Japan Act states that the Bank's monetary policy should be "aimed at achieving price stability, thereby contributing to the sound development of the national economy" - a phrase that says what to pursue while leaving open how anyone would know it had been reached. In January 2013 the Bank supplied the missing half, setting a price stability target of 2 per cent measured as the year-on-year change in the consumer price index, and committing to reach it at the earliest possible time. The target was announced alongside a joint statement with the government on overcoming deflation, which is the problem it was written to address, and which is the reverse of the difficulty most central banks were built to manage.
Deciding it is a scheduled, collective act. The Policy Board meets at Monetary Policy Meetings, discusses the economic and financial situation, sets the guideline for money market operations and announces its stance immediately after the meeting; the Bank then conducts its daily operations inside that guideline, choosing the instruments and the amounts. So the chain runs from a statutory phrase, through a number the Bank chose, to a guideline, to what is bought and sold on a given morning.
Scale does the rest. In the Bank for International Settlements survey of April 2025 the yen was the third most actively traded currency in the world, on one side of 16.8 per cent of trades. Turnover in yen interest-rate derivatives rose by 684 per cent from the previous survey; that growth, together with sterling's, accounted for a third of the increase in global turnover since 2022. A currency traded that heavily is priced continuously somewhere in the world, and it moves on events that have nothing to do with Japan.
Sources: Bank of Japan, Outline of Monetary Policy · Bank of Japan, Price Stability Target of 2 Percent · Bank for International Settlements, Triennial Central Bank Survey - press release, 30 September 2025