Based on the last 12 Balance of Trade events in Japan, we expect a $460 movement on GBPUSD within 2 hours following the event release at 19 May 23:50. We expect GBPUSD to trend downwards 2 hours following the event release at 19 May 23:50 if the released value is < ¥140B Historical events that allowed us to draw this conclusion

16 Mar 23:50

15 Dec 23:50

19 Jul 23:50

20 May 23:50