Based on past United States Existing Home Sales news events there is a 75% chance of USDJPY trending downwards. We expect this to happen because the released value is > 4.89M. A price movement of 24 pips is expected.

Historical events that allowed us to draw this conclusion

23 Nov 02:00	22 Oct 01:00
24 Aug 00:00

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