Based on the last 12 Markit Manufacturing PMI Flash events in Germany, we expect a $331.45 movement on USDJPY within 4 hours following the event release at 19 Feb 19:30. We expect USDJPY to trend upwards 4 hours following the event release at 19 Feb 19:30 if the released value is > 56.5

Historical events that allowed us to draw this conclusion

16 Dec 19:30	23 Oct 18:30
23 Sep 17:30	21 Aug 17:30
24 Jul 17:30	24 Mar 19:30
21 Feb 19:30

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