Based on the last 12 Balance of Trade events in United Kingdom, we expect a $454.74 movement on USDJPY within 12 hours following the event release at 11 Mar 18:00. We expect USDJPY to trend downwards 12 hours following the event release at 11 Mar 18:00 if the released value is < £-3.7B Historical events that allowed us to draw this conclusion

13 Oct 17:00	12 Aug 16:00
13 Apr 16:00

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