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FX.co ★ EURJPY M5: Bearish Flag

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Technical Analysis Patterns

2024-03-07T04:42:06
Signal strength 1 of 5

EURJPY M5: Bearish Flag

Bearish FlagThe 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.
The M5 and M15 time frames may have more false entry points.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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Other patterns by EURJPY