Based on the last 12 ISM Non-Manufacturing PMI events in United States, we expect USDJPY to trend upwards later today. Based on these past events there is a 80% chance of this. We expect USDJPY to trend upwards 4 hours following the event release at 05 Nov 15:00 if the released value is > 53.5. A price movement of 26 pips is expected.
Historical events that allowed us to draw this conclusion
05 Sep 14:00 |
05 Jun 14:00 |
06 Dec 15:00 |
05 Nov 15:00 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
