We expect USDJPY to trend downwards for the next 2 hours. Based on these past United States ISM Manufacturing PMI news events there is a 75% chance of this. We expect this to happen because the released value is > 52. A price movement of 28 pips is expected.
Historical events that allowed us to draw this conclusion
01 Aug 14:00 |
01 Mar 15:00 |
01 Feb 15:00 |
01 Dec 15:00 |
01 Nov 14:00 |
01 Oct 14:00 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
