USDJPY may trend downwards right now

We expect a $345 movement on USDJPY within the next 12 hours. We expect USDJPY to trend downwards 12 hours following the Ivey PMI s.a events in Canada release because the released value is < 64. A price movement of 47 pips is expected. Historical events that allowed us to draw this conclusion

07 May 00:00
08 Jan 02:00
07 Aug 00:00

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