AUD/JPY = AUD/USD*USD/JPY
The spreads have different values and this is a composite relationship
True spread should be 3*4 = 12 pips.
You are saving by getting 10 . . . I think?
Now
AUD/JPY = 88.50/88.55
AUD/USD = 0.7528/0.7532
USD/JPY = 117.54/117.57
Now 0.7532*117.57 = 88.553724 = 88.55
& 0.7528*117.54 = 88.484112 = 88.48
so there seems to be some live discrepancy . . . now how do you take advantage of this? . . . Perhaps the contextual question should be . . . if I need to short AUD/JPY should I take the short A/J rather than the short A/U + short U/J option?
Jezz . . .