We expect USDJPY to trend upwards later today. Based on these past Australia NAB Business Confidence news events there is a 75% chance of this. We expect this to happen if the released value is > -3. A price movement of 47 pips is expected.
Historical events that allowed us to draw this conclusion
11 Feb 00:30 |
12 Nov 00:30 |
09 Jul 01:30 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
