FX.co ★ NZDJPY M5: Bearish Flag

The Bearish Flag pattern has been formed on NZDJPY at M5. The lower boundary of the pattern is located at 91.51/91.55 while the upper boundary lies at 91.57/91.61. The projection of the flagpole is 14 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 91.51 is broken, the price will move further downwards.