Based on the last 12 Balance of Trade events in Japan, we expect a $360 movement on NZDUSD within 4 hours following the event release at 2022-12-15 10:50. We expect NZDUSD to trend downwards 4 hours following the event release at 2022-12-15 10:50 if the released value is > ¥-1680.3B

Historical events that allowed us to draw this conclusion

20 Oct 10:50	21 Jul 09:50
20 Jan 10:50

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