Based on the last 12 Balance of Trade events in Australia, we expect a 19 pip movement on USDJPY within 2 hours following the event release at 05 Nov 11:30 GMT+11. We expect USDJPY to trend downwards 2 hours following the event release at 05 Nov 11:30 GMT+11 if the released value is > A$2.1B

Historical events that allowed us to draw this conclusion

04 Jun 11:30	07 May 11:30
07 Apr 11:30	05 Mar 11:30
07 Nov 11:30

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