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We expect a 22 pip movement on USDJPY within 4 hours following the event release.

Based on the last 12 Ifo Business Climate events in Germany, we expect USDJPY to trend upwards later today. Based on these past events there is a 75% chance of this. This may happen if the released value is > 86.8

Historical events that allowed us to draw this conclusion

23 May 08:00
22 Feb 09:00
25 Jan 09:00

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

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