We expect a $316.4 movement on USDJPY within 4 hours following the release of Markit Manufacturing PMI Flash at 24 Mar 19:30. We expect USDJPY to trend upwards 4 hours following the event release at 24 Mar 19:30 if the released value is > 39.6. A price movement of 35 pips is expected.

Historical events that allowed us to draw this conclusion

21 Feb 19:30	24 Jan 19:30
22 Aug 17:30	21 Jun 17:30

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