What is the correlation between AUD and JPY in the cryptocurrency market?
L1SophiaMay 06, 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?
1 answers
- May 06, 2022 · 3 years agoAt 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.
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