FX.co ★ GBPJPY M5: Bullish Flag

The Bullish Flag pattern has been formed on GBPJPY at M5. The lower boundary of the pattern is located at 211.37/211.37, while the higher boundary lies at 211.47/211.47. The projection of the flagpole is 31 points. This formation signals that the upward trend is most likely to continue. Therefore, if the level of 211.47 is broken, the price will move further upwards.