I recently got onto a live trading account with Pepperstone. I really enjoy cTrader by the way but I digress.
After watching both pairs very closely for the last week, I noticed there were particular times of the day where I would notice correlation between the pairs, which at times did diverge from each other for a period of time, only to go back to very similar movements.
IF anyone wants to have a look-see, check out the two pairs for yesterdays trading between 3pm (sydney time) and midnight. It was crazy. I made the initial mistake of taking a short on the AUD/USD and a long on the AUD/JPY. Needless to say it was a disaster.
On a side note, did everyone enjoy trading yesterdays AUD/USD pair? IT was the easiest trading day I have ever experienced and learned that my exit points were ridiculous and in need of further honing.