Based on the last 12 BoJ Interest Rate Decision events in Japan, we expect a 46,500 pip movement on NIY within 2 hours following the event release at 18 Mar 03:00 UTC. We expect NIY to trend downwards 2 hours following the event release at 18 Mar 03:00 UTC if the released value is = -0.1%

Historical events that allowed us to draw this conclusion

18 Jan 03:00

17 Dec 03:00

22 Sep 03:00

18 Jun 03:00

19 Mar 03:00

21 Jan 03:00

18 Dec 03:45

17 Sep 03:00