Based on the last 12 Balance of Trade events in Japan, we expect a $270 movement on AUDUSD within 2 hours following the event release at 20 Jul 09:50. We expect AUDUSD to trend downwards 2 hours following the event release at 20 Jul 09:50 if the released value is < ¥-35.8B Historical events that allowed us to draw this conclusion

21 May 09:50	20 Apr 09:50
20 Nov 10:50	19 Aug 09:50

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