Based on the last 12 Tankan Large Manufacturers Index events in Japan, we expect a 16 pip movement on NZDUSD within 4 hours following the event release at 01 Jul 09:50 GMT+10. We expect NZDUSD to trend downwards 4 hours following the event release at 01 Jul 09:50 GMT+10 if the released value is < -31 Historical events that allowed us to draw this conclusion

13 Dec 10:50	01 Jul 09:50
01 Oct 09:50	02 Jul 09:50
02 Apr 09:50

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