Based on the last 12 Ivey PMI s.a events in Canada, we expect USDJPY to trend downwards later today. Based on these past events there is a 75% chance of this. We expect USDJPY to trend downwards 12 hours following the event release at 07 Apr 00:00 if the released value is > 60. A price movement of 17 pips is expected.

Historical events that allowed us to draw this conclusion

05 Mar 02:00	05 Feb 02:00
08 Dec 02:00	09 Sep 00:00
08 Jul 00:00	08 Apr 00:00

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