Based on the last 12 Industrial Production YoY events in Euro Area, we expect a $201.96 movement on USDJPY within 12 hours following the event release at 14 Apr 19:00. We expect USDJPY to trend downwards 12 hours following the event release at 14 Apr 19:00 if the released value is < -0.9% Historical events that allowed us to draw this conclusion

15 Feb 21:00	12 Nov 21:00
14 Jul 19:00	13 May 19:00

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