Based on the last 12 Balance of Trade events in Japan, we expect a $190 movement on EURUSD within the next 4 hours. We expect EURUSD to trend downwards for the next 4 hours because the released value is < ¥420B Historical events that allowed us to draw this conclusion

19 Oct 10:50	20 Jul 09:50
21 May 09:50	20 Apr 09:50

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