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We expect USDJPY to trend downwards with a 80% chance.

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”).

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We expect a 44 pip movement on AUDUSD for the next 48 hours.

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