Based on the last 12 Balance of Trade events in Japan, we expect a 20 pip movement on USDCHF within 2 hours following the event release at 18 Apr 23:50 UTC. We expect USDCHF to trend upwards 2 hours following the event release at 18 Apr 23:50 UTC if the released value is < ¥490B Historical events that allowed us to draw this conclusion

16 Mar 23:50

15 Dec 23:50

18 Oct 23:50

19 Jul 23:50

20 May 23:50

19 Apr 23:50