15 pip movement on USDJPY expected

Based on the last 12 Balance of Trade events in Japan, we expect a 15 pip movement on USDJPY within 2 hours following the event release at 18 Nov 23:50 GMT. We expect USDJPY to trend upwards 2 hours following the event release at 18 Nov 23:50 GMT if the released value is < ¥-70B

Historical events that allowed us to draw this conclusion

16 Aug 00:50
23 Jan 23:50
19 Nov 23:50

All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).

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