The Bearish Flag pattern has been formed on USDJPY at M15. The lower boundary of the pattern is located at 110.12/110.20 while the upper boundary lies at 110.22/110.30. The projection of the flagpole is 22 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 110.12 is broken, the price will move further downwards.