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 80% chance of this. We expect USDJPY to trend upwards 4 hours following the event release at 26 Mar 20:00 if the released value is < 93.2. A price movement of 11 pips is expected. Historical events that allowed us to draw this conclusion

25 Jan 20:00	26 Oct 20:00
24 Sep 18:00	25 Mar 20:00

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