The Bearish Flag pattern has been formed on EURJPY at M5. The lower boundary of the pattern is located at 161.80/161.90 while the upper boundary lies at 161.90/162.00. The projection of the flagpole is 24 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 161.80 is broken, the price will move further downwards.