We expect a $1,037.4 movement on USDJPY within 48 hours following the release of Balance of Trade at 19 Feb 10:50. We expect USDJPY to trend downwards 48 hours following the event release at 19 Feb 10:50 if the released value is > ¥-1694.9B. A price movement of 114 pips is expected.

Historical events that allowed us to draw this conclusion

18 Dec 10:50	18 Sep 09:50
18 Jul 09:50	19 Jun 09:50
17 Apr 09:50	18 Mar 10:50

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