***Update*** 4hr analysis ***See previous USD/JPY post***

We have seen the pair break through our trend line dating back to 2015. We have since, seen multiple retests of the flag pattern trend line--as evidenced in the chart. Today, we saw a false breakout to the downside--no doubt to trap sellers--only to see a strong move to the upside (which I caught a quick 50 pips and closed). Price has now rejected the 38.2% fib level from todays movement, which makes me think another push up and out of this channel is imminent. Sitting on my hands for now until we see a clear break of this channel.