Based on past United States Michigan Consumer Sentiment Prel news events there is a 66.67% chance of USDJPY trending downwards. We expect this to happen because the released value is < 58. A price movement of 40 pips may be on the cards. Historical events that allowed us to draw this conclusion

14 May 00:00	13 Nov 02:00
16 Oct 01:00	18 Sep 00:00
14 Aug 00:00	17 Jul 00:00

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