Based on the last 12 GDP Growth Rate QoQ events in Canada, we expect a 40 pip movement on USDJPY for the next 4 hours. We expect USDJPY to trend downwards for 4 hours because the released value is > -2.6%

Historical events that allowed us to draw this conclusion

30 Nov 00:30	30 Aug 22:30
31 Aug 22:30	31 May 22:30

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