Based on the last 12 GDP Growth Rate QoQ Flash events in Euro Area, we expect a 20 pip movement on USDJPY within 2 hours following the event release at 2023-04-28 19:00. We expect USDJPY to trend upwards 2 hours following the event release at 2023-04-28 19:00 if the released value is < 0.2% Historical events that allowed us to draw this conclusion

31 Jul 19:00

30 Apr 19:00

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