Based on the last 12 Philadelphia Fed Manufacturing Index events in United States, we expect USDJPY to trend downwards. Based on these past events there is a 80% chance of this. We expect USDJPY to trend downwards for 2 hours because the released value is < 8. A price movement of 13 pips is expected. Historical events that allowed us to draw this conclusion
20 Jun 12:30 |
18 Apr 12:30 |
20 Dec 13:30 |
15 Nov 13:30 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
