FX.co ★ USDJPY M5: Bearish pennant

The Bearish pennant pattern has formed on the USDJPY M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 109.54; the projection of the flagpole height is equal to 6 pips. In case the price breaks out the pattern’s bottom of 109.54, the downtrend is expected to continue for further level 109.39.