FX.co ★ NZDJPY M5: Bearish pennant

The Bearish pennant pattern has formed on the NZDJPY M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 83.11; the projection of the flagpole height is equal to 45 pips. In case the price breaks out the pattern’s bottom of 83.11, the downtrend is expected to continue for further level 82.96.