Based on the last 12 Industrial Production YoY events in Euro Area, we expect a 31 pip movement on USDJPY within 2 hours following the event release at 16 Apr 19:00 GMT+10. We expect USDJPY to trend downwards 2 hours following the event release at 16 Apr 19:00 GMT+10 if the released value is < -2% Historical events that allowed us to draw this conclusion

12 Feb 21:00	15 Jan 21:00
14 Oct 20:00	14 Aug 19:00

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