Based on the last 12 Ifo Business Climate events in Germany, we expect USDJPY to trend upwards later today. Based on these past events there is a 83.33% chance of this. We expect USDJPY to trend upwards 2 hours following the event release at 25 Mar 20:00 if the released value is > 94.2. A price movement of 18 pips is expected.

Historical events that allowed us to draw this conclusion

22 Feb 20:00	25 Jan 20:00
24 Jun 18:00	25 May 18:00
26 Mar 20:00

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