There is a 80% chance of USDJPY trending downwards

Based on past United Kingdom GfK Consumer Confidence news events there is a 80% chance of USDJPY trending downwards. We expect this to happen if the released value is < -8. A price movement of 29 pips is expected.Historical events that allowed us to draw this conclusion

22 Apr 23:01
22 Oct 23:01
20 Aug 23:01
23 Jul 23:01

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

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