Markets always on the lookout for the path of least resistance. In this case it is selling JPY on its crosses where there ius less chance of sparking BoJ intervention.
In this case, there is a tug-of-war where AUDUSD is trading up while USDJPY is up as well. Note most of the move in the cross is the result of AUD moving up more while JPY is down less vs the USD.
(1 hour AT chart)
AUDJPY = AUDUSD x USDJPY
In our bloig, Understanbding Cross Currency Flows
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