FX.co ★ AUDJPY M5: Bearish Flag

The Bearish Flag pattern has been formed on AUDJPY at M5. The lower boundary of the pattern is located at 97.02/97.06 while the upper boundary lies at 97.06/97.10. The projection of the flagpole is 10 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 97.02 is broken, the price will move further downwards.